Altair Engineering

Altair Engineering Inc. is an American multinational information technology company headquartered in Troy, Michigan, that provides software and cloud solutions for simulation, IoT, high performance computing (HPC), data analytics, and artificial intelligence (AI).

The firm develops and provides software and cloud services for product development, high-performance computing (HPC), simulation, artificial intelligence, and data intelligence.[4][5] Altair is the creator of the HyperWorks CAE software product, among numerous other software packages and suites.

Founded in 1985, the company went public in 2017 and was traded on the Nasdaq stock exchange under the symbol ALTR.[6] In 2025, it was acquired by Siemens for $10.6 billion.[7]

History

Founding

Altair Engineering was founded in 1985 by James R. Scapa, George Christ, and Mark Kistner in Troy, Michigan. Since the company's outset,[9] Scapa has served as its CEO (and now chairman).[10]

Initially, Altair started as an engineering consulting firm,[11] but branched out into product development and computer-aided engineering (CAE) software.[12] In the 1990s, it became known for its software products like HyperWorks, OptiStruct,[13] and HyperMesh,[14] which were often used for product development by the automotive industry.[15][16]

Some of Altair's early clients included the Ford Motor Company, General Motors,[12] and Chrysler.[17] Its software also aided in the development of the Young America[18] and AmericaOne racing yachts,[12] the former of which was used to compete in the 1995 America's Cup.[18]

Its software also found uses in other sectors, including aerospace (NASA),[19] aviation (Airbus),[13] consumer electronics (Nokia),[19] and toy manufacturing (Mattel), among others.[12] In 2002, Altair software aided in the design of the Airbus A380 by weight optimizing the aircraft wing ribs.[13]

Also in 2002, Altair opened offices in Seongnam, South Korea and Shanghai, China,[20] adding those locales to its international footprint alongside India where it had begun investment in 1992.[14]

Early 2000's and 2017 IPO

In addition to its software production, Altair hires out engineering consultants to its corporate clientele.[12] Its consultancy services accounted for the majority of the company's revenue until 2004, when the sale and licensing of software overtook that.[21] In October of that year, General Atlantic invested $30 million in Altair.[22] Also in 2004, Altair partnered with General Motors and the United States Department of Defense on the design and construction of a new military vehicle.[23]

Altair also branched out into the life sciences, finance, and pharmaceutical industries with its high performance computing software, PBS Professional,[21]

2020s

In June 2020, the company announced that it would be providing software updates for all of its products. The updates were implemented to improve workflows and provide access to a broader set of tools for data analytics, machine learning, and physics.[37] In January 2021, Altair announced that it would collaborate with Rolls-Royce Holdings on a project using AI and machine learning to improve the aero jet engine design process.[38] In November 2021, Altair's PBS Professional workload manager was selected by the Argonne National Laboratory to be used across the organization's high performance computing (HPC) systems, including the Polaris and Aurora supercomputers.[39] That same month, Altair was also included on Inc. Magazine's 2021 Best-Led Companies list.[40] In December, Altair was named as one of Investor's Business Daily's Best 100 ESG Companies.[41]

type	Subsidiary
founded	1985
founders	James R. Scapa George Christ Mark Kistner
hq location	Troy, Michigan, U.S.
key people	James R. Scapa (chairman & CEO) Matthew Brown (CFO)‡R1R‡‡R2R‡
industry	CAE Software · Product Design and Development · Simulation · Data Analytics · Artificial Intelligence · IoT · High-Performance Computing
revenue	US$665.8 million (2024)
operating income	US$17.7 million (2024)
net income	US$14.2 million (2024)
assets	US$1.446 billion (2024)
num employees	3,000+ (2024)‡R3R‡
parent	Siemens AG
website	altair.com

History

Founding

Early 2000's and 2017 IPO

2020s

Corporate acquisitions

See also

External links

References