Potential Sale Sparks Interest in Altair Engineering

Altair Engineering, valued at $9 billion, is considering a sale after attracting acquisition interest. The Michigan-based firm is consulting with investment bankers, though a deal is not assured. Shares rose following news of the talks, highlighting the attractiveness of engineering software companies amid an AI boom.

Altair Engineering, a prominent engineering software company, valued at nearly $9 billion, is currently exploring potential sale options due to acquisition interest, insiders revealed on Tuesday. The company, based in Troy, Michigan, is working with investment bankers to assess interest from prospective buyers, according to confidential sources.

While discussions are underway, a conclusive deal is not guaranteed, and Altair may opt to remain independent, according to one source. The company's shares surged by over 14% after Reuters reported on the potential sale talks, reflecting investor interest.

Potential bidders include competitors like PTC and Cadence Design Systems, although it is unclear if they have approached Altair directly. Engineering software firms have gained appeal as the market looks to capitalize on the artificial intelligence boom, with similar significant transactions occurring within the industry.

(With inputs from agencies.)