Altair Engineering Inc. [NASDAQ: ALTR] disclosed that it has bought Flow Simulator from GE Aviation. Flow Simulator is an incorporated flow, heat transfer, and internal combustion design software, which allows mixed fidelity models to enhance machine and systems design. Both the firms have signed an MOU to promote the strategic partnership.
As per the acquisition agreement, Altair will continue the growth of Flow Simulator. This buying will also provide Altair software suite to access GE Aviation to discover improved features associated with real-world use cases and work processes. Furthermore, this buying deal includes continuing supervisory commitment between both parties to create a richer strategic position and engage in new businesses.
GE Aviation and Altair Engineering both have earlier worked in various program together. They both worked on rotor dynamics using Altair OptiStruct, which offer new opportunities to come together. Altair has decided to acquire Flow Simulator because the relationship with GE Aviation to drive revolution for aircraft engines and beyond.
System-level-designs are necessary for the continuous growth of an organization. Likewise, the software solution like Flow Simulator is necessary for organization to model an entire system.
The Flow Simulator has various features such as Optimization Module, Thermal Network Modeling, Concept System module, Intuitive interface, and User-defined elements. Shares of Altair plunged 1.03% as it lost -0.63 during the trading session of Tuesday. Altair Engineering Inc has a total market capitalization of $4.32 billion at the time of writing.