TROY, MI -- Altair today announced the acquisition of EDA software developer Polliwog Co.
Altair paid a total of $11 million in cash, subject to customary working capital adjustments, and an aggregate of 473,752 shares of its Class A common stock, valued at $0.0001 per share, for the privately held Polliwog.
Altair is a developer of PLM, modeling and simulation tools primarily for the high performance computing sector. Polliwog expands Altair’s portfolio for system-level engineering to the PCB design and analysis market. The products include a PCB modeler, simulation solvers, and design verification tools. Polliwog's customers include Samsung and LG Electronics.
“The PollEx Modeler shares Altair’s open system philosophy and integrates easily into customer environments that use any of the leading PCB design tools and deliver innovative and practical solutions, a perfect fit for what we call simulation-driven design,” said James Scapa, chairman, chief executive and founder, Altair. “Polliwog’s powerful PCB modeler and design verification tools allow EDA engineers at small and enterprise customers to collaborate at never-seen-before levels and greatly expands our HyperWorks solution portfolio.”
The integrated design of mechanical behavior and electronics is a trademark of today’s product development. Throughout the last several years Altair has expanded from its foundation of mechanical simulation software into areas of systems simulation and electromagnetics. Polliwog’s PCB solvers and verification tools extend these capabilities further.
“Our business has mostly been focused on Korea where we work with the biggest electronics manufacturers, and we see Altair as the right fit for global expansion,” said Sun Hewh Huh, president and chief executive, Polliwog. “As the worlds of mechanical and electronic design are converging, Altair’s culture of simulation-driven innovation is the perfect home for our people and technology.”
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