Altair Engineering exploring sale after acquisition interest, Reuters says

Altair Engineering (ALTR) is exploring a sale after receiving acquisition interest, three people familiar with the matter told Reuters’ Anirban Sen and Milana Vinn. Altair is working with investment bankers to gauge interest from potential suitors, the sources said. If the talks are successful, a deal could be signed in the coming weeks, said one source, who cautioned that a transaction is not guaranteed and Altair may choose to stay independent. Sources said potential bidders include rival design software makers such as Cadence Design Systems (CDNS), though Reuters could not determine whether Cadence had approached Altair, the report added.