Altair Responds to Matrix Capital Management Statement on Altair Holdings

Rhea-AI Summary

Altair (Nasdaq: ALTR), a global leader in computational intelligence, has responded to a statement from Matrix Capital Management. James R. Scapa, Altair's founder, chairman, and CEO, expressed appreciation for Matrix Capital Management's continued strong support and decision to maintain its full position in Altair. Scapa acknowledged that this decision recognizes Altair's long-term strategic value.

The response comes following an announcement made by Matrix Capital Management on August 20, 2024. While the specifics of Matrix's statement are not provided in the press release, it appears to have been significant enough to warrant a public response from Altair's leadership.

Positive

• Matrix Capital Management maintains its full position in Altair
• Recognition of Altair's long-term strategic value by a major investor

Negative

• None.

News Market Reaction – ALTR

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In the trading session that priced this news, ALTR declined 6.89%, reflecting a notable negative market reaction.

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TROY, Mich., Aug. 20, 2024 (GLOBE NEWSWIRE) -- Altair (Nasdaq: ALTR), a global leader in computational intelligence, today responded to a statement from Matrix Capital Management.

“In response to today’s announcement from Matrix Capital Management, we appreciate its strong support over the years and its decision to maintain its full position in Altair, recognizing our long-term strategic value,” said James R. Scapa, founder, chairman, and chief executive officer, Altair.

About Altair

Altair is a global leader in computational intelligence that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. To learn more, please visit www.altair.com.

Media Relations
Jennifer Ristic
216-849-3109
jristic@altair.com

Investor Relations
Stephen Palmtag
669-328-9111
spalmtag@altair.com

FAQ

What was Altair's (ALTR) response to Matrix Capital Management's statement?

Altair expressed appreciation for Matrix Capital Management's strong support and decision to maintain its full position in Altair, recognizing the company's long-term strategic value.

Who issued the response on behalf of Altair (ALTR) to Matrix Capital Management?

James R. Scapa, the founder, chairman, and chief executive officer of Altair, issued the response to Matrix Capital Management's statement.

When did Altair (ALTR) respond to Matrix Capital Management's statement?

Altair responded to Matrix Capital Management's statement on August 20, 2024.

What is Altair's (ALTR) primary business focus according to the press release?

According to the press release, Altair is described as a global leader in computational intelligence.