SimLab Acquired By Michigan Firm

Rancho Santa Margarita-based SimLab Corporation, a developer of software used for finite element modeling, has been acquired by Troy, Michigan-based Altair Engineering. Financial terms of the acquisition were not disclosed. SimLab's finite element modeling software is used for computer aided engineering and design of powertrain systems in the automotive and heavy equipment industries. According to Altair, it will acquire SimLab's technology and development staff, adding them to its computer-aided engineering (CAE) software development operations. SimLab had been headed by Dr. Shan Nageswaran. The firm will remain in Rancho Santa Margarita.