Altair to Acquire Controlling Interest in Hicare of Italy
 TROY,
Michigan & TORINO, Italy, January 18, 2007 - Altair Engineering, Inc., a
leading global provider of technology to strengthen client innovation, today
announced it has entered into an agreement to acquire controlling interest
in Hicare Srl, a privately held business intelligence software company
headquartered in Torino, Italy . Specific financial terms of the transaction
are not being disclosed.
Hicare is the developer of Lilith Enterprise and Web Server business
intelligence software, a robust decision-making support system with
unparalleled graphing and reporting capabilities for interactive
visualization of information. Built on a unique database architecture that
combines relational, hierarchical and multidimensional database models,
Lilith provides the ability to view and analyze captured data from multiple
perspectives and user profiles. Hicare's diverse client base includes
notable firms such as adidas, Diageo, Ferrero, Fiat, Levi Strauss & Company,
Porsche Italia and TNT Global Express.
"At Altair, we focus on helping our clients manage and gain insight from
the growing volumes of corporate and product performance data," said James
R. Scapa, president and CEO of Altair Engineering . "With an emphasis on
technology for data analysis and visualization, we see the integration of
Hicare's technology as fundamental for our clients to interactively search,
mine, view and dashboard complex business and engineering information for
rapid decision-making."
"The global development resources and support infrastructure that Altair
brings as part of this acquisition will greatly accelerate the strategic
development of this groundbreaking technology and provide world-class
support for its users worldwide," said Roberto Marchisio, president and
co-founder of Hicare. "Our entire organization is excited to become an
integral part of Altair's vision for client information capture and
visualization."
Lilith HyperCubes (data containers) are limitless in size and can contain
different types of homogenous and non-homogeneous data. In fact, a single
HyperCube can contain all the information for the entire enterprise.
Uniquely positioned in the market, Hicare's HyperCube technology allows
daily refreshing of business data and the ability to dynamically perform
large-scale and complex operations through an integrated calculation engine,
without the need to rebuild the HyperCube information.
Altair plans to centralize Hicare's business activities as part of its
United States-based world headquarters operations, and Hicare will continue
the development of its business intelligence software in Italy. In
addition, Altair will begin leveraging and integrating Hicare technology
within Altair's commercial product offerings for data management,
computer-aided engineering and grid computing.
More information regarding this acquisition is available at
http://www.altair.com/hicare.
About Altair Engineering
Altair Engineering, Inc. strengthens client innovation and
decision-making through technology that optimizes the analysis, management
and visualization of business and engineering information. Privately held
with more than 1,000 employees, Altair has offices throughout North America,
Europe and Asia/Pacific. With a 20-year-plus track record for product
design, advanced engineering software and grid computing technologies,
Altair consistently delivers a competitive advantage to customers in a broad
range of industries. To learn more, please visit
www.altair.com.
About Hicare
Hicare is an emerging developer of advanced business intelligence
technology that enables companies to make smarter decisions. Hicare's Lilith
Enterprise and Web Server technology provides customers with a robust
decision-making support system with unparalleled graphing and reporting
capabilities for interactive visualization of information. With a diverse
client base representing the automotive, banking and finance, fashion, food
product, insurance, logistics, manufacturing and research market segments,
Hicare's customers include notable firms such as adidas, Diageo, Ferrero,
Fiat, Levi Strauss & Company, Porsche Italia and TNT Global Express. For
more information on Hicare, see
http://www.hicare.com.
--------
If news like this is important to you, sign up for our TenLinks Daily at http://www.tenlinks.com/NEWS/sub_unsub.htm.
Related Stories
May 25 - Altair Launches Design Center of Excellence in Kuala Lumpur
Mar 20 - Altair, MIMOS to Develop Grid Computing Technology Portals
Feb 26 - Altair, GMI Launch Robust Design - Center of Excellence
Jan 18 - Altair OptiStruct/Analysis Technology Integrated with AMLS
Jan 18 - Altair to Acquire Controlling Interest in Hicare of Italy
Source: Material used in press releases is often supplied by external
sources and used as is.
|
