Altair Acquires Product Development Process Specialist Synopsis Consulting

TROY, Mich., Nov. 8, 2012 /PRNewswire/ -- Altair, a leading global provider of simulation technology and engineering services, today announced it has acquired Synopsis Consulting. Founded in 1986 and headquartered in Turin, Italy, Synopsis Consulting is a leading expert in improving product development process efficiency through the implementation of business and engineering performance analytics solutions. The staff of Synopsis Consulting will be incorporated into Altair's product development division, Altair ProductDesign, to augment the company's Enterprise Solutions Group.

For over 25 years, Synopsis Consulting built its reputation by supplying Italian automotive, transportation, machinery and white goods manufacturers with high-quality business analytics solutions, tailored for its clients' operational and organizational needs. Fiat Auto and Iveco are among the notable Synopsis customers. The company's primary area of expertise involves the development of engineering analytics systems that help to connect a client's cross-functional development teams, allowing the accurate tracking of costs, materials, product performance and weight targets throughout the development and manufacturing cycles.

"Before the acquisition, Synopsis was a close partner of Altair in providing our clients with cost and weight analytics solutions," said Mike Heskitt, Chief Operating Officer of Altair ProductDesign. "With the growing awareness of the critical importance of light-weighting in both the automotive and aerospace markets, the weight analytics solutions we have developed combine with Altair's core optimization technologies and expertise to furnish a complete solution for our customers. This is why the acquisition was a natural fit for both companies."

Altair will capitalize on the Synopsis Consulting team's business and engineering analytics domain knowledge and establish a center of excellence to work in conjunction with Altair ProductDesign's Enterprise Solutions Group. The combined group will assist companies in solving engineering problems at the desktop, team and enterprise levels by identifying potential improvements in existing operations and help to increase efficiency through system integration, process automation, specialist dashboards and data management solutions.

"We are very excited to join the Altair family," said Rocco Cappiello and Carlo Damiani, co-founders of Synopsis Consulting. "Altair's global organization will provide Synopsis with the scale required to develop innovative new business and engineering solutions, and support Altair's worldwide client base. Our team's process experience will complement Altair's product development expertise extremely well. We are looking forward to joining the Enterprise Solutions Group and will relish the opportunity to integrate our weight analytics solution into Altair's Optimization Centers in operation throughout automotive and aerospace OEMs."

About Altair
Altair Engineering, Inc. empowers client innovation and decision-making through technology that optimizes the analysis, management and visualization of business and engineering information. Privately held, with 1,800 employees, Altair has offices throughout North America, South America, Europe and Asia/Pacific. With a 26-year track record for high-end software and consulting services for engineering, high-performance computing and enterprise analytics, Altair consistently delivers a competitive advantage to customers in a broad range of industries. To learn more, visit www.altair.com and www.simulatetoinnovate.com.

About Altair ProductDesign
Altair ProductDesign is a global, multi-disciplinary product development consultancy of more than 700 designers, engineers, scientists, and creative thinkers.  As a wholly owned subsidiary of Altair Engineering, Inc. (www.altair.com), this organization is best known for its leadership in combining its engineering expertise with computer aided engineering (CAE) technology to deliver innovation and automate processes. Altair ProductDesign uses proprietary simulation and optimization technologies, Altair HyperWorks, to help clients bring innovative, profitable products to market faster. To learn more, please visit www.altairproductdesign.com and www.altairenlighten.com.

SOURCE Altair Engineering, Inc.