Altair Engineering Inc. Stockholders Approve Merger with Siemens

Altair Engineering Inc. (NASDAQ: ALTR) recently held a special meeting of stockholders on January 22, 2025, to vote on proposals related to the Agreement and Plan of Merger with Siemens Industry Software Inc. and Astra Merger Sub Inc. As per the terms of the Merger Agreement, Siemens will merge with and into Altair, making Altair a wholly owned subsidiary of Siemens. Following the merger, Altair will no longer be publicly held, and its securities will be delisted from the Nasdaq Global Select Market.

During the meeting, Altair informed that 97.8% of the voting power of all issued and outstanding shares of Altair common stock were present or represented by proxy, meeting the quorum requirement. The proposals voted upon included adopting the Merger Agreement and approving the compensation for Altair’s named executive officers related to the merger. Both proposals received the necessary approval from Altair’s stockholders.

As a result of the approval of the Merger Agreement Proposal, a vote on the adjournment proposal was not deemed necessary. The voting results for each proposal are as follows:
– Merger Agreement Proposal: Votes For – 307,156,609; Votes Against – 10,862; Abstentions – 21,052.
– Merger-Related Compensation Proposal: Votes For – 305,518,588; Votes Against – 1,530,771; Abstentions – 139,164.

Furthermore, Altair issued a press release on January 22, 2025, announcing the results of the Special Meeting. The full press release, including additional details, is available in the Form 8-K filing along with the voting results.

Altair Engineering Inc. is a globally recognized leader in computational intelligence, offering software and cloud solutions in various areas such as simulation, high-performance computing, data analytics, and AI. Siemens AG, a leading technology company, aims to transform industries, infrastructure, mobility, and healthcare through digital innovation.

The completion of the merger will involve Siemens acquiring all outstanding shares of Altair’s common stock for $113.00 per share in cash. Once finalized, Altair’s securities will no longer be listed on any public stock exchange. The details and terms of the merger can be found in the official press release filed with the SEC on January 22, 2025.

Investors are advised to review Altair’s SEC filings concerning risk factors and uncertainties associated with forward-looking statements related to the proposed merger. Altair does not commit to updating or revising forward-looking statements made in this release or subsequently.

For further information, Altair’s Investor Relations can be reached at +1 669-328-9111 or [email protected], and Media Relations at +1 216-849-3109 or [email protected].

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Altair Engineering’s 8K filing here.

About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.