Siemens AG, a German power equipment manufacturer, plans to sell a stake in Siemens Energy AG for 2.5 billion euros ($2.6 billion). This is reported in a Siemens press release.
The proceeds from the sale of 6% of the shares will be used to finance the acquisition of American software developer Altair Engineering Inc. for $10 billion.
Currently, Siemens owns 17% of the shares of Siemens Energy, which was separated from the Siemens structure in 2020. In 2024, Siemens Energy shares more than quadrupled amid growing demand for products for powerful data centers.
The agreement to acquire Altair was signed in October 2024 and provided for financing the transaction through the sale of shares of companies listed on the stock exchange, as well as through proceeds from the sale of Innomotics assets for 3.5 billion euros.
In addition, Siemens is ready to sell 5% of the 75% shares of Siemens Healthineers AG to raise 3 billion euros at current market prices.
Altair Engineering is an American multinational information technology company headquartered in Troy, Michigan. The company develops software for modeling, the Internet of Things, data analysis and artificial intelligence. Altair Engineering has developed the HyperWorks CAE platform.
Siemens Energy is a German manufacturer of equipment for the energy industry. The company develops energy systems for the transition to clean energy and manufactures gas and steam turbines, hybrid hydrogen-powered power plants, electric generators and transformers. Siemens Energy employs 99,000 people in 90 countries. In 2024, revenue amounted to 34.5 billion euros.
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