Altair Contemplating Sale, Sources Say

Engineering software firm Altair Engineering, with a market value of about $8 billion, is considering a sale after receiving acquisition interest, three sources reported in October.

Troy, MI-based Altair is working with investment bankers to determine interest from potential suitors, the sources noted, requesting anonymity because of the confidential nature of the discussions.

If talks prove successful, a deal could be inked in the near future, one of the sources noted, while warning that a transaction is not guaranteed and Altair may choose to stay independent.

Potential bidders include design software makers such as Cadence Design Systems, the sources said. Reuters reported that it could not determine whether Cadence had approached Altair.

Altair and Cadence have not publicly responded to requests for comment.

Altair makes software solutions, including computer-aided engineering software that helps engineers design, analyze and manufacture products.

Sources: Press materials received from the company and additional information gleaned from the company’s website.