Tag: AltaIR

Altair (Nasdaq: ALTR), a global leader in computational science and artificial intelligence (AI), announced the rebrand of its entire data analytics and AI suite as Altair RapidMiner, uniting all data analytics technology into one platform. Following the acquisitions of RapidMiner and World Programming, the Altair RapidMiner platform offers comprehensive end-to-end solutions from data ingestion and modeling to operationalization and visualization. Additionally, the platform is now available via Altair Units, delivering a new generation of Frictionless AI capabilities to customers.

“Altair RapidMiner removes barriers to effectively connect three of an organization’s most important assets: data, people, and processes. With an unrivaled and complete set of tools to transform organizations, we are paving the way to a frictionless future,” said Sam Mahalingam, chief technology officer, Altair. “The platform enables users of all skill levels to accelerate projects from idea to production, modernizes legacy environments, and caters to enterprise needs with desktop and cloud offerings. We meet you where you are and evolve with your company, wherever you go in the future.”

The Altair RapidMiner platform delivers breadth and depth across the analytics lifecycle with unique capabilities that overcome the most challenging obstacles organizations face along their digital transformation journey.

Most notably, Altair RapidMiner:

• Scales AI initiatives without requiring a big team of data scientists or expensive services engagements. Organizations can upskill their workforce so users from novice to expert can leverage the tools needed to provide data-driven insights.
• Empowers users to extract and prep data easily from any source, working with reports and PDFs that are core to the business.
• Alleviates the pressure of modernizing expensive legacy environments. Teams can create, maintain, and run SAS language programs, models, and workflows directly in a multi-language environment (e.g. Python, R, SQL).
• Gets more models into production. Teams can operationalize models faster and monitor them continuously across one shared MLOps environment.
• Processes and displays massive amounts of fast-changing data. Users can build sub-second streaming, batch, and business intelligence (BI) data applications.

Whether an organization requires end-to-end or composable analytics, Altair RapidMiner enables customers to deliver the right tool at the right time to their diverse teams.

Upskill Your Organization

In addition to the Altair RapidMiner platform, Altair helps organizations shape their data analytics programs and upskill their employees with the Center of Excellence (CoE) methodology. The CoE identifies the highest priority use cases and helps tackle those first, upskills the business line teams so they can address data analytics problems themselves, and trains everyone – from business analysts to data scientists – to use the right tools for the problem.

Training is available through the Altair RapidMiner Academy, which provides self-paced, persona-based learning for users of all skill levels and industries. These programs offer bite-sized learning alongside curated courses and pathways, designed to match roles, knowledge domains, and skill levels.

Altair Units: Freedom, Flexibility, and Value

Historically, the data analytics sector has revolved around named-user pricing that drives up costs and limits access. Altair Units – Altair’s gold standard software licensing system – democratizes access to data analytics solutions while simultaneously making it more affordable than ever to access these tools. The ability to access all of Altair’s data analytics and AI products via Altair Units gives users the flexibility to run software anywhere, the freedom to choose what software tools they need when they need them, and unparalleled value that maximizes use and minimizes cost.

To learn more about the Altair RapidMiner platform, visit Altair booth #643 at the Gartner Data & Analytics Summit in Orlando, March 20-22, 2023, or visit https://web.altair.com/frictionless-ai-for-every-person-and-every-enterprise-gartner.

Altair (Nasdaq: ALTR), a global leader in computational science and artificial intelligence, today announced the pricing of $200 million aggregate principal amount of Convertible Senior Notes due 2027 (the “notes”) in a private offering (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).  Altair also granted the initial purchaser of the notes a 13-day option to purchase up to an additional $30 million aggregate principal amount of notes. The sale of the notes to the initial purchaser is expected to settle on June 14, 2022, subject to customary closing conditions, and is expected to result in approximately $194.6 million (or approximately $223.9 million if the initial purchaser exercises its option to purchase additional notes in full) in net proceeds to Altair after deducting the initial purchaser’s discounts and commissions and estimated offering expenses payable by Altair.

The notes will be senior, unsecured obligations of Altair. The notes will bear interest at a rate of 1.750% per year, payable semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2022. The notes will mature on June 15, 2027 unless earlier repurchased, redeemed or converted. Altair may not redeem the notes prior to June 20, 2025. Altair may redeem for cash all or, subject to certain limitations, any portion of the notes, at its option, on or after June 20, 2025 if the last reported sale price of Altair’s Class A Common Stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period  (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which Altair provides notice of redemption, at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.

The notes will be convertible at an initial conversion rate of 13.9505 shares of Altair’s Class A Common Stock, per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $71.68 per share, which represents a conversion premium of approximately 30.0% to the last reported sale price of $55.14 per share of Altair’s Class A Common Stock on the Nasdaq Global Select Market on June 9, 2022).

Prior to the close of business on the business day immediately preceding December 15, 2026, the notes will be convertible at the option of the noteholders only upon the satisfaction of specified conditions and during certain periods. On or after December 15, 2026 until the close of business on the business day immediately preceding the maturity date, the notes will be convertible at the option of the noteholders at any time regardless of these conditions. Upon conversion, Altair will satisfy its conversion obligation by paying and/or delivering, as the case may be, cash, shares of its Class A Common Stock or a combination of cash and shares of its Class A Common Stock, at Altair’s election.

Altair intends to use approximately $192.4 million of the net proceeds from the offering to repurchase approximately $148.2 million aggregate principal amount of Altair’s 0.250% Convertible Senior Notes due 2024 (the “2024 notes”) in the repurchase transactions described below and to use the remainder of the net proceeds for working capital and other general corporate purposes, which may include potential acquisitions and strategic transactions as well as repurchases of its Class A Common Stock. From time to time, Altair evaluates potential acquisitions and strategic transactions of businesses, technologies, or products. However, Altair has not designated any specific uses and has no current agreements with respect to any material acquisition or strategic transaction. Altair’s intentions with respect to its use of such net proceeds are subject to change.

Contemporaneously with the pricing of the notes, Altair entered into separate privately negotiated transactions (each, a “2024 note repurchase”) with certain holders of the 2024 notes to repurchase approximately $148.2 million aggregate principal amount of the 2024 notes for an aggregate of approximately $192.4 million of cash.

Altair expects that certain holders of 2024 notes that agreed to sell their 2024 notes in negotiated transactions with Altair will, concurrently with or shortly after the pricing of the notes, enter into or unwind various derivatives with respect to Altair’s Class A Common Stock and/or purchase shares of Altair’s Class A Common Stock in the market. The amount of Altair’s Class A Common Stock that such holders purchase may be substantial in relation to the historic average daily trading volume of Altair’s Class A Common Stock. In addition, Altair expects that certain purchasers of the notes may establish a short position with respect to Altair’s Class A Common Stock by short selling Altair’s Class A Common Stock or by entering into short derivative positions with respect to Altair’s Class A Common Stock, in each case, in connection with the offering.

The net effect of the above market activities by holders of the 2024 notes and purchasers of the notes could increase (or reduce the size of any decrease in) or decrease (or reduce the size of any increase in) the market price of Altair’s Class A Common Stock and/or the notes and may have affected the initial conversion price of the notes. Altair cannot predict the magnitude of such market activity or the overall effect it will have on the market price of the notes or Altair’s Class A Common Stock or the effect such market activity had on the initial conversion price of the notes.

The notes were only offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. Neither the notes nor the shares of Altair’s Class A Common Stock potentially issuable upon conversion of the notes, if any, have been, or will be, registered under the Securities Act or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from such registration requirements.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.

Altair (Nasdaq: ALTR), a global leader in computational science and artificial intelligence, today announced its intention to offer, subject to market conditions and other factors, $200 million aggregate principal amount of Convertible Senior Notes due 2027 (the “notes”) in a private offering (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Altair also expects to grant the initial purchaser of the notes a 13-day option to purchase up to an additional $30 million aggregate principal amount of notes (the “additional notes”).

The notes will be senior, unsecured obligations of Altair, and interest on the notes will be payable semi-annually in arrears. Upon conversion, Altair will satisfy its conversion obligation by paying and/or delivering, as the case may be, cash, shares of Altair’s Class A Common Stock or a combination of cash and shares of the Class A Common Stock, at Altair’s election. The interest rate, conversion rate and other terms of the notes are to be determined upon pricing of the offering.

Altair intends to use all or a portion of the net proceeds from the offering to finance the repurchase of a portion of Altair’s 0.250% Convertible Senior Notes due 2024 (the “2024 notes”) described below and any remaining net proceeds for working capital and other general corporate purposes, which may include potential acquisitions and strategic transactions as well as repurchases of its Class A Common Stock. From time to time, Altair evaluates potential acquisitions and strategic transactions of businesses, technologies, or products. However, Altair has not designated any specific uses and has no current agreements with respect to any material acquisition or strategic transaction. Altair’s intentions with respect to its use of such net proceeds are subject to change.

Contemporaneously with the pricing of the notes, Altair expects to enter into separate privately negotiated transactions with certain holders of the 2024 notes to repurchase a portion of the 2024 notes on terms to be negotiated with each holder (each, a “note repurchase”). The terms of each note repurchase are anticipated to be negotiated with certain holders of 2024 notes on an individual basis and will depend on several factors, including the market price of Altair’s Class A Common Stock and the trading price of the 2024 notes at the time of each such note repurchase. No assurance can be given as to how much, if any, of these 2024 notes will be repurchased or the terms on which they will be repurchased. The consideration for any such note repurchases will be cash, financed with all or a portion of the net proceeds from the offering and, if necessary, cash on hand.

Altair expects that certain holders of 2024 notes that sell their 2024 notes in negotiated transactions with Altair may enter into or unwind various derivatives with respect to Altair’s Class A Common Stock and/or purchase shares of Altair’s Class A Common Stock in the market. The amount of Altair’s Class A Common Stock that such holders purchase may be substantial in relation to the historic average daily trading volume of Altair’s Class A Common Stock. In addition, Altair expects that certain purchasers of the notes may establish a short position with respect to Altair’s Class A Common Stock by short selling Altair’s Class A Common Stock or by entering into short derivative positions with respect to Altair’s Class A Common Stock, in each case, in connection with the offering. The net effect of the above market activities by holders of the 2024 notes and purchasers of the notes could increase (or reduce the size of any decrease in) or decrease (or reduce the size of any increase in) the market price of Altair’s Class A Common Stock, the market price of the notes and/or the initial conversion price of the notes, and Altair cannot predict the magnitude of such market activity or the overall effect it will have on the market price of the notes, the market price of Altair’s Class A Common Stock or the initial conversion price of the notes.

The notes will only be offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. Neither the notes nor the shares of Altair’s Class A Common Stock potentially issuable upon conversion of the notes, if any, have been, or will be, registered under the Securities Act or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from such registration requirements.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.