Altair Engineering is an information technology and product development consulting company that provides software and services to more than 3,000 customers in the automotive, aerospace, heavy equipment, and consumer products industries, among others. Altair develops custom software for industrial design, engineering simulation, corporate data analysis, and computer networking applications. The company also provides product design services for automobiles and consumer goods, among other items. It operates from some 40 offices in about 15 countries worldwide. Customers include Ford, Boeing, John Deere, the US Department of Energy, the US Navy, Procter & Gamble, and Pfizer.
The company operates primarily through subsidiaries. Its product design business is overseen by Altair ProductDesign, while its computer-aided engineering and business intelligence analysis applications are developed by HyperWorks and HiQube, respectively. solidThinking provides industrial design software and PBS Works provides cloud-based software used by organizations to share computing resources across geographic regions using a "pay-for-use" model that conserves high-performance computing power.
Although privately held, Altair Engineering reported 2011 revenue of more than $200 million, which is up some 20% from the prior year. The company has a record of compound annual growth of greater than 20% over its 25-plus-year history.
Mergers and Acquisitions
Altair enhances its product offerings through strategic acquisitions. In 2010 the company bought California-based 3D modeling software developer SimLab Corporation, a specialist in tools used to design powertrains for automobiles and heavy industrial equipment. The deal enabled Altair to extend the functionality and increase the efficiency of its HyperWorks computer-aided engineering application. The next year Altair acquired another California company, ACUSIM Software, a developer of high-fidelity computational fluid dynamics software for such clients as Bechtel and Chevron. Altair made the purchase to add functionality to its HyperWorks engineering software product line and to build its client base. – less