Form 4: Altair Engineering Inc. Major Shareholder Christ Revocable Trust Discloses Transaction Following Acquisition by Siemens
SEC Form 4 Filing
Christ Revocable Trust, a 10% owner of Altair Engineering Inc., reports the cancellation and conversion of Class B Common Stock into cash following the company's acquisition by Siemens Industry Software Inc.
Summary
- On March 26, 2025, Altair Engineering Inc. was acquired by Siemens Industry Software Inc. pursuant to a merger agreement dated October 30, 2024.
- As a result of the merger, each share of Altair's Class B Common Stock held by Christ Revocable Trust was canceled and converted into the right to receive $113.00 in cash.
- The trust held 4,481,778 shares of Class B Common Stock, which were convertible into Class A Common Stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral as it primarily reports a completed transaction (acquisition). There are no indications of positive or negative impacts beyond the factual reporting.
Future Outlook
The document does not contain any forward-looking statements regarding the future outlook of Siemens or Altair.
Industry Context
This announcement reflects the trend of larger companies acquiring specialized technology firms to expand their capabilities and market reach. Siemens' acquisition of Altair Engineering aligns with this trend, as it allows Siemens to integrate Altair's simulation and AI-driven solutions into its existing portfolio.
Comparison to Industry Standards
- The acquisition of Altair by Siemens is similar to other acquisitions in the software and engineering space, such as Autodesk's acquisition of Moldflow or Ansys' acquisition of various simulation companies.
- The $113 per share valuation would need to be compared to other similar transactions to assess whether it was a premium or standard valuation.
Stakeholder Impact
- Shareholders of Altair received $113.00 per share for their Class B Common Stock.
- The acquisition may lead to integration and restructuring within Altair, potentially affecting employees.
Key Dates
| Date | Description |
|---|---|
| May 8, 2015 | Date of attorney-in-fact for Christ Revocable Trust |
| October 30, 2024 | Date of the merger agreement between Altair, Siemens, and Astra Merger Sub Inc. |
| 03/26/2025 | Date of the acquisition of Altair Engineering Inc. by Siemens Industry Software Inc. and the transaction date for the conversion of Class B Common Stock. |
Keywords
Altair Engineering Inc., Siemens, acquisition, merger, Class B Common Stock, Christ Revocable Trust, Form 4, beneficial ownership, ALTR
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