Altair Acquires SimSolid
Game-Changing Simulation Technology for Designers, Design Engineers, and Simulation Analysts
TROY, Mich. – October 17, 2018 – Altair (Nasdaq: ALTR) has acquired SimSolid, a company founded by asking a simple question: “Why does the geometry used in the Design and Structural Simulation worlds have to be so different?”
Altair SimSolid works on full-fidelity CAD assemblies to provide fast, accurate, and robust structural simulation without requiring geometry simplification, cleanup, or meshing. Its underlying technology is based largely on the work of Dr. Victor Apanovitch, a former professor at Belarus Polytechnic University and the cofounder of Altair SimSolid Corporation.
“We believe Altair SimSolid is a revolutionary technological breakthrough which will have a profound impact for product design”, said James Scapa, Altair’s Founder, Chairman, and CEO, “It’s incredibly fast, accurate, and robust and we believe a game changer for our industry”.
The Altair SimSolid computational engine is a commercial implementation of novel and unpublished mathematics based on extensions to the theory of external approximations. Altair SimSolid controls solution accuracy using multi-pass adaptive analysis, making it extremely fast and memory efficient. Large and complex assemblies can be solved rapidly even on laptop computers.
Dr. Uwe Schramm, Altair’s Chief Technical Officer, notes that, “We are very serious about solution accuracy. Others have tried to accelerate the interface between CAD and simulation by degrading the mathematical robustness. It is our feeling that by rapidly moving forward with the methods in Altair SimSolid and expanding them across applications we can have a real effect on how design gets done while maintaining our high standards for computational excellence.”
To learn more about Altair SimSolid, hear from our executives and technologists, and register for an upcoming introductory Altair SimSolid webinar or contact a regional representative, visit www.altair.com/SimSolid.
About Altair (Nasdaq: ALTR)
Altair transforms design and decision making by applying simulation, machine learning and optimization throughout product lifecycles. Our broad portfolio of simulation technology and patented units-based software licensing model enable Simulation-Driven Innovation™ for our customers. With more than 2,000 employees, Altair is headquartered in Troy, Michigan, USA and operates 71 offices throughout 24 countries. Altair serves more than 5,000 customers across broad industry segments. To learn more, please visit www.altair.com.
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This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our business outlook, potential growth, market positioning and future investments, and our reconciliations of projected non-GAAP financial measures. These forward-looking statements are made as of the date of this release and are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Altair’s control. Altair’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in Altair’s quarterly and annual reports filed with the Securities and Exchange Commission as well as other documents that may be filed by the Company from time to time with the Securities and Exchange Commission. Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent Altair’s views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its views to change. Altair undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Altair’s views as of any date subsequent to the date of this press release.
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