Quickie: Altair and Trimble acquire to expand their reaches
Super quick, since it’s a busy day:
Altair announced this morning that it has acquired World Programming, a company that makes data analytics software used in financial services and insurance. Altair CEO Jim Scapa said that “[w]e … see this acquisition as a significant opportunity to help companies transition to hybrid architectures using modern, open technologies and languages while preserving, protecting, and leveraging the best elements of existing technology such as the SAS language. We believe World Programming’s solutions are highly advanced and proven to help customers compile and execute millions of models built using the SAS language while embracing modern languages and open-source technologies, allowing them to respond faster to market demands and gain new insights.” Revenue and price paid were not disclosed. You can read more here.
Trimble also announced an acquisition today, adding to its infrastructure offering. It has acquired AgileAssets, a “provider of enterprise infrastructure asset management software to private organizations and government[s] … [Its] asset management solutions provide organizations with advanced analytics for real-time decision making as well as insights for efficiently managing day-to-day maintenance operations.” Financial terms were not disclosed for this deal either. You can read the full press release here.
One quick thought: we’re all reading about labor shortages, as people redefine what to them constitutes a happy life — which may mean rethinking how and for whom they work. One way of managing this at the hiring end of the problem is via acquisitions. Each company added to the enterprise brings products to sell, yes, but also talented professionals who may be given a new reason to stay with the organization as it reinvents as part of a bigger whole. When the acquisitions a tiny, they’re called tech tuck-ins or “acqui-hires”. I don’t know that either of the above qualifies as one of these, but it is one way of dealing with all of these job openings. I expect the deal flow to stay strong.