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Altair and Progresstech Sign Memorandum of Understanding to Promote Technological and Engineering Interests

Cooperative partnership designed to promote Altair’s software technology and its simulation driven innovation methods in Russia and the Commonwealth of Independent States (CIS) TROY, Michigan, Farnborough, UK – July 11, 2016 – Altair and Progresstech have today, at the International Farnborough Air Show, signed a Memorandum of Understanding under which Progresstech will leverage its engineering expertise and market positions to promote and distribute Altair’s software technology and methods in Russia and the Commonwealth of Independent States (CIS). The terms of the partnership include the promotion of Altair's HyperWorks Suite, solidThinking products and Altair’s methods for lead time reduction and weight optimization. Altair will support Progresstech to leverage and build competence in Altair’s optimization methodology and both companies will engage jointly in engineering projects when beneficial to the companies' clients. Both parties will work on a formal distribution agreement for Progresstech to become an official HyperWorks reseller in Russia and the CIS.

“I am very pleased with this agreement,” said Dr. Pietro Cervellera, Managing Director, Altair Engineering GmbH. “Progresstech is a well-known and established player for advanced engineering services world wide. Their expertise and regional presence will help Altair, who has no direct local office in Russia, to establish the use of HyperWorks, solidThinking products and Altair's simulation driven innovation method in the Russian and related region's commercial and educational markets."

“We are very happy to include the Altair’s solutions in our portfolio and to work with their methods,” said Ekaterina Vasilieva, Vice President International Cooperation, Progresstech Group. “Altair provides a very unique set of solutions and we are planning to include the Altair software as the primary tool enhancing our engineering processes. This partnership will help us to reach and support new customers and Altair to establish their software and engineering methods in our region. We are looking forward to the benefits customers of both companies will gain from this partnership.”

Altair is focused on the development and broad application of simulation technology to synthesize and optimize designs, processes and decisions for improved business performance. Privately held with more than 2,600 employees, Altair is headquartered in Troy, Michigan, USA and operates more than 45 offices throughout 22 countries. Today, Altair serves more than 5,000 corporate clients across broad industry segments. To learn more, please visit www.altair.com.

Progresstech is a group of companies that provides global engineering solutions to aerospace, automotive, energy industries, as well as airport infrastructures services. The Group employs and leverages the talents of over 2000 professionals worldwide, having offices presented in Armenia, Cyprus, France, Latvia, Poland, Russia, Ukraine, and United States . Progresstech’s strategy is aimed at preservation and development of the intellectual resources, scientific and practical experience, and proactive approach to formation of a different business environment around the world. For more information please visit: http://www.progresstech.aero/en.

Media Contacts:
Altair Europe, the Middle East and Africa
Evelyn Gebhardt
+49 6421 9684351

Altair Corporate / Americas
Biba A. Bedi
+1.757.224.0548 x 406

Ekaterina Vasilieva
+7 495 741 4645 ext. 124