Benzinga | Jul 27, 2020 07:16AM EDT

Altair Acquires S&WISE Co., Terms Not Disclosed

TROY, Mich., July 27, 2020 (GLOBE NEWSWIRE) -- Altair, (NASDAQ:ALTR) a global technology company providing solutions in product development, high-performance computing (HPC), and data analytics, today announced the acquisition of S&WISE Co., Ltd., a Seoul-based leading provider of polyurethane foaming simulation.



The acquisition will allow Altair to offer customers the most advanced solution for polyurethane foam processing on the market. S&WISE accurately simulates the injection, foaming, and gelling processes, accounting for the important effects of chemical reactions during the process. An enhanced version of S&WISE's solver will be released within Altair Inspire(tm) PolyFoam, providing the ease-of-use and productivity of other Inspire solutions. Customers will be able to:

* Check manufacturing feasibility early

* Reduce manufacturing defects

* Reduce cycle time by designing accurate gating locations and feed rates

* Leverage the best-in-class solver technology with a fast, highly accurate solution

* Utilize the included material database for commonly used foaming and tooling materials

"Polyurethane foam is used in a vast array of industries and products including automotive interiors, recreational equipment, and medical devices. S&WISE enables us to offer another critical manufacturing simulation and design solution to our customers," said James Scapa, Altair's chief executive officer and founder.

The S&WISE solver and technology complements Altair's existing Inspire manufacturing simulation offerings including casting, forming, mold-filling, extrusion, and additive manufacturing.S&WISE brings deep technical knowledge and more than a decade of experience serving global manufacturing customers.

"We are thrilled to join the global powerhouse that is Altair," said Lee Sungyoon, chief executive officer and founder of S&WISE. "Our solutions will bolster their already outstanding portfolio of solvers and solutions."

About Altair (NASDAQ:ALTR)

Altair is a global technology company that provides software and cloud solutions in the areas of product development, high performance computing (HPC), and data analytics.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 www.altair.com.