In 1985, three visionary engineers, seeing the potential for computer modeling and simulation, founded a small Michigan-based product design consulting business that specialized in the emerging field of computer-aided-engineering (CAE). Today, with more than 1,300 employees and an expanded business portfolio that includes enterprise analytics, engineering, and on-demand computing software technologies, the founding shareholders continue to hold a majority ownership stake in the privately-held company.
In October of 2004, Altair successfully secured a $30 million capital raise from General Atlantic, LLC. General Atlantic is the world's leading direct investment firm focused on investing globally in companies providing or using IT in ways that significantly transform the value proposition. The capital raise transaction provided General Atlantic a minority equity position in Altair and a seat on Altair’s Board of Directors.
Altair sought the funding to accelerate growth and capital expansion, increase technology investments and secure additional liquidity, as needed to support future corporate initiatives. Additionally, Altair leverages this investment to expand into new markets, both within North America and in other key geographic regions around the world.
01/2011 - AcuSim, a leading developer of massively scalable, high-fidelity computational fluid dynamics (CFD) solver solutions.
10/2010 - SimLab, a highly automated, tailored finite element modeling solutions for powertrain systems within the automotive and heavy equipment industries.
12/2007 - solidThinking, Italian industrial design/styling software company
01/16/2007 - Hicare Srl, an Italy-based business intelligence software developer
9/14/2006 - Mecalog Group, a France-based global CAE software developer
NEW BUSINESS VENTURES:
04/30/2007 - ilumisys, inc., next-generation solid-state lighting technology
12/15/2004 - BUSolutions, high-efficiency transit bus development to revitalize public transportation