Altair acquires IoT firm, releases new software

TROY — The Troy-based engineering technology developer Altair Engineering Inc. (Nasdaq: ALTR) announced the acquistiion of the intellectual property of Oakland, Calif.-based Candi Controls Inc., a developer of technologies that connect Internet of Things devices and data to the services that create smart buildings.

Altair also said it had hired Candi’s experienced software and technology team. Other terms of the transaction were not immediately disclosed.

Candi’s software is designed to easily connect systems and equipment with cloud-based monitoring and control services to help organizations improve performance, conserve resources, and cut operational costs. Sensor data can be analyzed, visualized, and processed with machine learning and predictive analytics tools to forecast performance and prescribe actions consistent with business objectives.

“Altair’s vision is for digital twin simulation and predictive-prescriptive analytics solutions to run in the cloud or on edge gateway computers to optimize performance of both industrial equipment and consumer devices,” said James Scapa, founder, chairman, and CEO at Altair. “We believe this acquisition is important to help our customers’ digital transformation and enable their products to thrive in today’s rapidly emerging connected ecosystems of smart devices.”

Altair’s Carriots is an open-architecture IoT platform designed for asset monitoring, predictive and prescriptive maintenance, and digital twin projects. Designed for today’s digital transformations and tomorrow’s innovations, the Carriots platform accelerates IoT deployment and provides simple scalability as projects grow in scope. Learn more and try for free at www.carriots.com.

Altair also announced the release of the 2018 versions of its electromagnetic simulation software Feko, WinProp, Flux, and FluxMotor. These electromagnetic solver tools, part of Altair’s HyperWorks, are used to accelerate the design process for the automotive, aerospace, defense, communications, consumer electronics, energy, and healthcare industries.

“The range of applications covers electromagnetic problems across the whole frequency range from DC into THz, integrated within Altair’s multiphysics modeling environment for multidisciplinary system optimization,” said Ulrich Jakobus, senior vice president for electromagnetic solutions at Altair.

The company said the new versions broaden functionality, simplify workflows, and enhance the user experience.

Altair offers simulation technology and a patented units-based software licensing model to its 5,000 customers. The company has more than 2,000 employees in 69 offices throughout 24 countries. More at www.altair.com.

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