TROY, MI – Altair Engineering stockholders have voted in a special meeting to adopt the $10 billion merger agreement with Siemens Industry Software.

In the deal first announced in October, Siemens will acquire all outstanding shares of Altair's common stock for $113 per share in cash.

The acquisition of the simulation software provider is expected to increase Siemens' digital business revenue by 8%, adding around €600 million ($651 million) to its revenue of €7.3 billion ($7.9 billion) in fiscal year 2023, Siemens said in announcing the deal, and providing Altair full access to its global footprint and customer base should have a revenue impact of more than $500 million per year in the mid term and more than $1 billion per year in the long term.

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