Lowenstein Sandler is representing Altair Engineering Inc. (Nasdaq: ALTR) (Altair) in a $176 million acquisition of Datawatch Corporation (Nasdaq: DWCH) (Datawatch). Altair is a leading provider of enterprise-class simulation technology. Datawatch is a provider of market-leading data preparation, predictive analytics, and visualization solutions.
Under the terms of the parties’ definitive merger agreement, Altair will commence a tender offer to acquire all of the outstanding shares of common stock of Datawatch for $13.10 per share in cash. The deal is subject to certain customary conditions and is expected to close in the fourth quarter of 2018.
The acquisition of Datawatch significantly advances Altair’s vision of simulation-driven design by accelerating the convergence of data and simulation. The transaction also expands Altair’s market share by providing an opportunity to cross-sell Datawatch products to Altair’s primarily manufacturing customer base and by giving Altair access to Datawatch’s financial services and capital markets customers.
Lowenstein Sandler is serving as Altair’s legal counsel; RBC Capital Markets, LLC, is serving as the company’s financial advisor. The Lowenstein team includes Peter H. Ehrenberg, Michael J. Mueller, Elizabeth A. Mandle, Justin Gindi, Colin J. Kirby, Valeska Pederson Hintz, Kate Basmagian, Lauren E. Killeen, Darren Goodman, Megan Monson, Brian A. Silikovitz, Sophia Mokotoff, Mark P. Kesslen, Manali Joglekar, Leah Satlin, Jeffrey Blumenfeld, Jack Sidorov, Jeffrey M. Shapiro, Lynda A. Bennett, Eric Jesse, Lowell A. Citron, Lauren M. Troeller, and Erica Perlmutter.
UPDATE: This transaction was completed on December 13, 2018.