Altair Engineering To Acquire Simlab Corporation

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28th October 2010, 10:18pm - Views: 772






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MEDIA RELEASE PR41937


Altair Engineering to Acquire SimLab Corporation


TROY, Mich., Oct. 28 /PRNewswire-AsiaNet/ --


      Acquisition of SimLab technology and expertise increases powertrain

                depth and broadens Altair's software portfolio



provider of simulation technology and engineering services that empowers

client innovation and decision-making, today announced it has entered into an

agreement to acquire SimLab Corporation (http://www.simlabcorporation.com).

Headquartered in Santa Margarita, Calif., SimLab specializes in highly

automated, tailored finite element modeling solutions for powertrain systems

within the automotive and heavy equipment industries. Under the agreement,

Altair will acquire SimLab's technology and development staff within its

HyperWorks computer-aided engineering (CAE) software development operations.


    With the unique ability to recognize computer-aided design (CAD) feature

information (bolts, chamfers, fillets, cylinders, etc.), SimLab's

template-driven, solid meshing solutions have allowed manufacturers of

complex systems to develop higher quality CAE models five-times faster than

with conventional methods. The addition of SimLab and its feature-based

meshing domain knowledge will extend Altair's simulation footprint across

broad industry segments while advancing the company's long-standing

leadership position in CAE modeling and assembly solutions.


    "Altair is dedicated to providing the very best in modeling and

visualization technology for the engineering community, and the addition of

SimLab to our range of CAE tools reinforces that commitment," said James R.

Scapa, chairman and CEO of Altair. "We recognize the value of SimLab's

technology, especially for customers who benefit from CAD associativity. This

acquisition and a shared vision fit perfectly with our technology roadmap for

CAE process automation."


    "By joining with Altair, we are ensuring the continued growth of our

technology," said Dr. Shan Nageswaran, president and CEO of SimLab. "SimLab

provides additional specialized functions for Altair's market-leading

applications suite; and, in turn, Altair opens new opportunities for

advancing SimLab in new markets and application scope to improve CAE modeling

efficiency."


    Altair anticipates completing the acquisition before the end of 2010.

SimLab will continue to operate from its California facility, while working

closely with the HyperWorks development organization at Altair's headquarters

in Troy, Mich. on integration roadmaps.


    About Altair

    Altair Engineering, Inc. empowers client innovation and decision-making

through technology that optimizes the analysis, management and visualization

of business and engineering information. Privately held, with more than 1,400

employees, Altair has offices throughout North America, South America, Europe

and Asia/Pacific. With a 25-year track record for product design, advanced

engineering software, grid computing technologies and enterprise analytics

solutions, Altair consistently delivers a competitive advantage to customers

in a broad range of industries. To learn more, please visit




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    SOURCE: Altair Engineering, Inc.

 

    CONTACT: Jennifer Wilt

            

Airfoil Public Relations on behalf of Altair Engineering

             +1-248-304-1418

             wilt@airfoilpr.com



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