Accenture and Siemens Launch Joint Business Group to Transform Engineering and Manufacturing

Accenture and Siemens announced on March 31, 2025, the formation of the Accenture Siemens Business Group, a strategic collaboration aimed at transforming engineering and manufacturing through a combination of automation, industrial AI, and software solutions. Unveiled at Hannover Messe 2025, the new group plans to scale to 7,000 professionals globally and will integrate Siemens' industrial technologies with Accenture's expertise in data and AI.

The joint business group will develop and deliver solutions that enable software-defined products and factories, targeting industries such as aerospace and defense, automotive, electronics, heavy equipment, semiconductors, and consumer goods. The group will also offer services for engineering model reinvention, product lifecycle management, software-defined vehicle development, real-time manufacturing execution, and cybersecurity in operational technology.

Accenture and Siemens highlighted past successes with clients such as KION, where they unified engineering processes using Siemens Teamcenter, and Navantia, where they developed a digital twin platform that reduced design and manufacturing costs by 20 percent.

The collaboration will also incorporate agentic AI capabilities to enhance productivity and automate engineering processes. These solutions will be supported by Accenture’s Industry X digital platforms and Siemens’ Xcelerator portfolio, helping clients increase efficiency, lower costs, and accelerate innovation across their value chains.

Altair Engineering Completes $9.7 Billion Acquisition by Siemens Industry Software

March 28, 2025 — Altair Engineering Inc. has officially been acquired by Siemens Industry Software Inc. in a transaction valued at approximately $9.7 billion, as disclosed in a Form 8-K filing with the SEC. The deal, first announced in October 2024, was completed on March 26, 2025, resulting in Altair becoming a wholly owned subsidiary of Siemens.

Merger Terms
Under the terms of the merger agreement:
- Altair shareholders received $113.00 in cash per share for each Class A and Class B common share.
- All Altair equity awards (including stock options and RSUs) were either paid out or converted into cash awards based on vesting schedules, with unvested grants continuing to vest under Siemens’ terms.
- The transaction triggered a Share Exchange Event, Fundamental Change, and Make-Whole Fundamental Change under the terms of Altair’s outstanding 1.750% Convertible Senior Notes due 2027. Each $1,000 principal amount of Notes can now be converted into cash payments of $1,618.79 if converted during the make-whole period.

Delisting and Deregistration
Following the merger:
- Altair’s Class A Common Stock has been delisted from the NASDAQ Global Select Market, effective after market close on March 26, 2025.
- A Form 25 will be filed to formally remove the listing, followed by a Form 15 to suspend public reporting obligations under the Exchange Act.

Leadership Transition
As part of the merger, Altair’s CEO James R. Scapa, CFO Matthew Brown, and COO Stephanie Buckner stepped down.
Siemens appointed Anthony L. Hemmelgarn as CEO and Timo Nentwich as CFO of the surviving corporation.
The former Altair Board was replaced by directors from Astra Merger Sub Inc., a Siemens subsidiary.

Additional Changes
Altair’s previous credit agreement with JPMorgan Chase Bank was terminated as of the merger closing, with no outstanding loans except for one unsecured letter of credit.
Altair's certificate of incorporation and bylaws were amended and restated in line with Siemens’ governance standards.

Altair, a global provider of simulation, high-performance computing, and AI software, now joins Siemens’ expansive software portfolio, positioning the company for deeper integration into Siemens’ industrial digital transformation strategy.