TROY, MI, Dec 14, 2018 – Altair Engineering Inc. announced that it has completed its previously announced acquisition of Datawatch Corp. Datawatch provides data intelligence with market leading enterprise data preparation, predictive analytics and visualization solutions that fuel business analytics.
“We are very pleased to welcome the Datawatch team as our newest Altairians with the completion of this acquisition,” said James Scapa, Altair’s Founder, Chairman, and CEO. “With a shared vision around the convergence of simulation and data science, we believe Datawatch’s current and developing products and technologies can significantly enhance the value Altair delivers to our customers. We are well-positioned to execute on the new opportunities Datawatch provides us while building on their vibrant existing business.”
The acquisition of Datawatch was structured as a merger under Section 251(h) of the General Corporation Law of the State of Delaware following the successful completion of Altair’s previously announced tender offer to purchase all issued and outstanding shares of common stock of Datawatch for $13.10 per share in cash, without interest and less any applicable withholding taxes.
As a result of the merger, subject to certain potential exceptions provided for in the merger agreement, all remaining shares of Datawatch common stock not previously tendered into Altair’s tender offer were converted into the right to receive $13.10 per share in cash, without interest and less any applicable withholding taxes.
Datawatch has requested that Nasdaq Capital Market file a Form 25 with the United States Securities and Exchange Commission causing the delisting of Datawatch’s common stock from Nasdaq Capital Market. Altair expects that Datawatch’s common stock will cease trading as of the close of trading on December 13, 2018.
About Altair (Nasdaq: ALTR)
Altair transforms design and decision making by applying simulation, machine learning and optimization throughout product lifecycles. Altair’s broad portfolio of simulation technology and patented units-based software licensing model enable Simulation-Driven Innovation™ for Altair’s 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.