Altair has announced a definitive merger agreement under which Altair has agreed to acquire Datawatch. Altair will pay $13.10 per share in cash, representing a fully diluted equity value of approximately $176 million. The transaction was unanimously approved by the Boards of Directors of both companies.
James Scapa, Altair’s Founder, Chairman, and Chief Executive Officer, commented: ‘Bringing Datawatch into Altair should result in a powerful offering consistent with our vision to transform product design and decision making by applying simulation, data science and optimisation throughout product lifecycles. We see a convergence of simulation with the application of machine learning technology to live and historical sensor data as essential to creating better products, marketing them efficiently, and optimising their in-service performance. Datawatch is a great team of people with best-in-class products, and we look forward to their joining us.’
Altair believes the acquisition of Datawatch will be useful in a number of different markets that want to leverage data analytics and data science technologies. Datawatch’s solutions, which include data prep, data prediction, and real-time high-volume data visualisation technologies, are highly relevant and applicable to almost any company and vertical market. Altair also reports that there is opportunity to cross-sell Datawatch products into Altair’s primarily manufacturing customer base.
Michael Morrison, Chief Executive Officer of Datawatch, added, ‘The Datawatch team is excited to join Altair and benefit from its long track record of success with developing and bringing to market highly differentiated software technology across diverse industry verticals. We feel great about the cultural alignment and look forward to driving continued innovation in our market-leading solutions as an integral part of Altair’s vision.’