Investor Relations

TROY, Mich., May 07, 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 the WRAP software business from Swedish company WRAP International AB. WRAP is a world-leading software technology for spectrum management and radio network planning for civil and defense organizations.

Three-dimensional city map display     Dynamic satellite footprint calculation     Automatically optimized LTE coverage     Spectrum allocations presented in WRAP     Three-dimensional radar coverage volume

With 30 years of development, originally in Saab, the WRAP software covers a wide range of applications with focus on controlling radio spectrum assets for maximum utilization, including radio planning, interference, and coverage calculations, complementing Altair’s existing Feko, newFASANT, and WinProp software for wireless propagation modeling and network planning. The impressive users of WRAP include among many others major defense organizations, telecom authorities, broadcast operators, and public safety organizations.

“WRAP software will be a strategic complement to Altair’s portfolio as we fortify our solutions for areas like wireless communications including 5G, connectivity, and IoT,” said James Scapa, Altair’s chief executive officer and founder. “We continue to focus on providing the world’s best software portfolio to help our customers meet their goals.”

As the world becomes ever-more connected, the required infrastructure is critical. This technology will bolt on to Altair’s existing portfolio in high-frequency electromagnetics.

“The WRAP team is thrilled to become part of the Altair ecosystem,” said OIov Carlsson, technical director of WRAP. “Since our inception, we have become trusted experts in spectrum management and radio network planning for civil and defense organizations, and we know that our wide-range of customers working to provide mission-critical safety communication channels will benefit from this Altair ecosystem.”

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.

Media Contacts Altair:

Corporate
Jennifer Ristic
+1.216.849.3109
jristic@altair.com

Altair Europe / The Middle East/Africa
Evelyn Gebhardt
+49 7031 6208 0
gebhardt@altair.de

Investor Relations
The Blueshirt Group
Monica Gould +1 212.871.3927
Lindsay Savarese - +1 212.331.8417
ir@altair.com

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Source: Altair Engineering Inc.