Altair Engineering Announces Completion of the Acquisition of Datawatch Corporation
December 13 2018 - 9:05AM
Altair Engineering Inc. (Nasdaq: ALTR) (“Altair”) today announced
that it has completed its previously announced acquisition of
Datawatch Corporation (“Datawatch”). 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.
Cautionary Language Concerning Forward-Looking
Statements
This communication may contain, in addition to
historical information, certain “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, including but not limited
to, statements relating to Altair’s expectations regarding
Datawatch and the cessation of trading in Datawatch’s common stock.
These forward-looking statements are made as of the date of this
release and are based on current expectations, estimates, forecasts
and projections as well as the beliefs and assumptions of
management. Words such as “expect,” “anticipate,” “should,”
“believe,” “hope,” “target,” “project,” “goals,” “estimate,”
“potential,” “predict,” “may,” “will,” “might,” “could,” “intend,”
variations of these terms or the negative of these terms and
similar expressions are intended to identify these forward-looking
statements. Such forward-looking statements are not guarantees or
predictions of future performance, and are subject to known and
unknown risks, uncertainties and other factors, many of which are
beyond our control, that could cause actual results, performance or
achievements of Altair following completion of the tender offer and
the merger described herein (collectively, the “Transactions”) to
differ materially from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such risks and uncertainties include the risks detailed
in the section entitled “Risk Factors” in Altair’s Annual Report on
Form 10-K for the year ended December 31, 2017, as updated by
Altair’s Quarterly Report on Form 10-Q for the quarters ended March
31, 2018, June 30, 2018 and September 30, 2018. Past performance is
not necessarily indicative of future results. The forward-looking
statements included in this press release represent Altair’s views
as of the date of this press release. Altair undertakes no
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events,
changes in expectations or otherwise. These forward-looking
statements should not be relied upon as representing Altair’s views
as of any date subsequent to the date of this press release.
Investor Relations – Altair Brian Denyeau ICR
248-614-2400 ext. 346ir@altair.com
Media Relations –Altair Dave Simon Altair
248-614-2400 ext. 332pr@altair.com
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