AsianFin -- Siemens AG has entered an agreement to acquire software company Altair Engineering Inc. in a deal valued at $10 billion, marking a significant step in the German engineering giant’s shift toward high-margin, software-driven solutions.

This acquisition, Siemens' largest to date, involves a payment of $113 per share to Altair shareholders, representing a 19% premium over Altair's October 21 closing price, the last trading day before acquisition rumors emerged. The transaction is set to be finalized in the latter half of 2025.

Altair, based in Troy, Michigan, has seen its shares climb 29% this year, closing at $108.63 on Wednesday, bringing its market value to approximately $9.3 billion. The equity value of Siemens’ offer reaches $10.6 billion, aligning with earlier reports from Bloomberg News about the nearing agreement.