![]() The company then made its products available to qualified startup companies through its Startup Program, formed in 2018 and relaunched in 2021. In the years leading up to the IPO, Altair acquired 11 different companies with strategic assets and expertise in fields like material science, electronics, industrial design, rendering, and others. The company raised $156 million with share prices starting at $13. On November 1, 2017, Altair went public with an IPO on the Nasdaq stock exchange and began trading under the stock ticker symbol ALTR. That year, it also bought out General Atlantic's equity stake in the company. By 2013, the company had offices in 19 countries worldwide and 1,800 employees. In the early 2010s, Altair's product design division (Altair ProductDesign) began creating prototypes of various vehicles including a hydraulic hybrid transit bus known as BUSolution and an electric concept car called the Avant GT. Ilumisys' operations were moved to Michigan in 2011, and it was rebranded as Toggled in 2012. In 2007, it spun off a new wholly-owned subsidiary called ilumisys, which would focus on light-emitting diode (LED) lamps designed to be used as direct replacements for fluorescent light tubes. In June 2006, Altair acquired the French CAE software company, Mecalog, and its Radioss technology suite. Īltair also branched out into the life sciences, finance, and pharmaceutical industries with its high performance computing software, PBS Professional, which it had acquired the rights to in 2003. Also in 2004, Altair partnered with General Motors and the United States Department of Defense on the design and construction of a new military vehicle. ![]() In October of that year, General Atlantic invested $30 million in Altair. Its consultancy services accounted for the majority of the company's revenue until 2004, when the sale and licensing of software overtook that. In addition to its software production, Altair hires out engineering consultants to its corporate clientele. Also in 2002, Altair opened offices in Seongnam, South Korea and Shanghai, China, adding those locales to its international footprint alongside India where it had begun investment in 1992. In 2002, Altair software aided in the design of the Airbus A380 by weight optimizing the aircraft wing ribs. Its software also found uses in other sectors, including aerospace ( NASA), aviation ( Airbus), consumer electronics ( Nokia), and toy manufacturing ( Mattel), among others. Its software also aided in the development of the Young America and AmericaOne racing yachts, the former of which was used to compete in the 1995 America's Cup. Some of Altair's early clients included the Ford Motor Company, General Motors, and Chrysler. In the 1990s, it became known for its software products like HyperWorks, OptiStruct, and HyperMesh, which were often used for product development by the automotive industry. Initially, Altair started as an engineering consulting firm, but branched out into product development and computer-aided engineering (CAE) software. Since the company's outset, Scapa has served as its CEO (and now chairman). Scapa, George Christ, and Mark Kistner in Troy, Michigan. History Founding Īltair Engineering was founded in 1985 by James R. It is traded on the Nasdaq stock exchange under the stock ticker symbol ALTR. The company was founded in 1985 and went public in 2017. Altair Engineering is the creator of the HyperWorks CAE software product, among numerous other software packages and suites. ![]() It provides software and cloud solutions for simulation, IoT, high performance computing (HPC), data analytics, and artificial intelligence (AI). is an American multinational information technology company headquartered in Troy, Michigan.
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