ALTR Altair Engineering

Altair Named Official Supplier for Luna Rossa Prada Pirelli Team

Altair Named Official Supplier for Luna Rossa Prada Pirelli Team

TROY, Mich., Oct. 27, 2020 (GLOBE NEWSWIRE) -- (Nasdaq: ALTR), a global technology company providing solutions in data analytics, simulation, and high-performance computing (HPC), today announced an agreement with , one of the challengers in the PRADA Cup and the 36th America’s Cup presented by Prada. Under this agreement, Altair is named an official supplier for the Luna Rossa Prada Pirelli team and will provide the engineering team of the sailing boat, AC75 Luna Rossa, with simulation software and engineering services.

Altair’s simulation solutions have been applied to design, develop, and optimize most of the boat’s components, and used to study the structural side of fluid structure interaction (FSI). With this type of analysis, the Luna Rossa Prada Pirelli engineers investigated the response of the boat’s overall structural model to its impact with water, obtaining important information on how the composite structures of the hull, deck, and interior would react under dynamic conditions. The engineers also evaluated the shape of the components immersed in water under load, taking into account the orthotropic elastic properties of composites and connecting structures. Finally, the team applied topology optimization on many metal components to fully exploit the design flexibility provided by additive manufacturing. These optimizations resulted in organic structures with optimal material distribution at maximum stiffness.

“We are delighted to welcome Altair as an official supplier,” said Alessandro Franceschetti, head of structural engineering of the Luna Rossa Prada Pirelli team. “Altair provides one of the most advanced and efficient composite design platforms on the market. The optimization of composite structures with Altair OptiStruct has allowed us to automate the ply-by-ply structural sizing processes of all primary structures of the boat, reaching an unmatched level of detail. This systematic and detailed approach to composite optimization has opened the door to a radical approach in the construction of components in the yard. It has also resulted in significant weight savings with the same structural efficiency while also improving the weight distribution of the boat.”

“Altair empowers innovation,” said Pietro Cervellera, Altair’s senior vice president of EMEA. “We are proud to support the Luna Rossa Prada Pirelli team on its way to the next America’s Cup and are dedicated to providing the team with cutting edge solutions, which will give them a competitive advantage, leading to a successful race in Auckland. We wish the team the best of luck.”

About Altair (Nasdaq: ALTR)

Altair is a global technology company that provides software and cloud solutions in the areas of data analytics, simulation, and high-performance computing (HPC). Altair enables organizations across broad industry segments to compete more effectively in a connected world while creating a more sustainable future. To learn more, please visit .

Media Contacts:

Altair Corporate  Altair Investor Relations
Jennifer Ristic   Monica Gould, The Blueshirt Group
+1.216.849.3109 +1 212.871.3927
 



Altair Europe/The Middle East/Africa
Evelyn Gebhardt
  
 

A photo accompanying this announcement is available at

EN
27/10/2020

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Altair Engineering

Altair Engineering Inc: 8 directors

Eight Directors at Altair Engineering Inc sold/sold after exercising options 7,807 shares at between 111.530USD and 111.614USD. The significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades ...

 PRESS RELEASE

Altair Announces Fourth Quarter and Full Year 2024 Financial Results

Altair Announces Fourth Quarter and Full Year 2024 Financial Results TROY, Mich., Feb. 20, 2025 (GLOBE NEWSWIRE) -- (Nasdaq: ALTR), a global leader in computational intelligence, today released its financial results for the fourth quarter and full year ended December 31, 2024. Fourth Quarter 2024 Financial Highlights Software revenue was $179.4 million compared to $155.9 million for the fourth quarter of 2023, an increase of 15.0% in reported currency and 16.5% in constant currencyTotal revenue was $192.6 million compared to $171.5 million for the fourth quarter of 2023, an increa...

 PRESS RELEASE

Altair Announces Third Quarter 2024 Financial Results

Altair Announces Third Quarter 2024 Financial Results TROY, Mich., Oct. 30, 2024 (GLOBE NEWSWIRE) -- (Nasdaq: ALTR), today released its financial results for the third quarter and nine months ended September 30, 2024. Immediately prior to the dissemination of this press release, Altair issued a press release announcing that it has entered into a merger agreement with a subsidiary of Siemens pursuant to which Altair will be acquired and stockholders of Altair will receive cash merger consideration as more fully described in that press release. Third Quarter 2024 Financial Re...

 PRESS RELEASE

Altair Signs Definitive Agreement with Siemens to be Acquired for $10....

Altair Signs Definitive Agreement with Siemens to be Acquired for $10.6 Billion Altair Stockholders to Receive $113 Per Share in Cash TROY, Mich., Oct. 30, 2024 (GLOBE NEWSWIRE) --  (Nasdaq: ALTR), a global leader in computational intelligence, today announced that it has entered into a definitive agreement to be acquired by Siemens, a leading technology company focused on industry, infrastructure, mobility, and healthcare. Altair stockholders will receive $113.00 per share in cash, representing an equity value of approximately $10.6 billion.  The $113.00 per share cash consideration re...

 PRESS RELEASE

Altair Announces Date of Third Quarter 2024 Financial Results Conferen...

Altair Announces Date of Third Quarter 2024 Financial Results Conference Call TROY, Mich., Oct. 16, 2024 (GLOBE NEWSWIRE) --  (Nasdaq: ALTR), a global leader in computational intelligence, will release its financial results for the third quarter ended September 30, 2024 after the market close on Wednesday, October 30, 2024. On that day, management will hold a conference call and webcast at 5 p.m. ET to review and discuss the Company’s third quarter 2024 results and fourth quarter and full year 2024 outlook. A recorded version of this webcast will be available after the call and accessible...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch