The founder of Atoss Software AG is exploring strategic options for the German-listed developer after attracting takeover interest from private equity firms, people familiar with the matter said.
(Bloomberg) — The founder of Atoss Software AG is exploring strategic options for the German-listed developer after attracting takeover interest from private equity firms, people familiar with the matter said.
Atoss Chairman Andreas Obereder is working with advisers as he discusses possibilities including a sale, the people said, asking not to be identified discussing confidential information.
The company has attracted interest from buyout firms including Hg, as well as Carlyle Group Inc. and Permira, though some have dropped due to concerns over valuation, the people said.
Shares of Atoss rose as much as 13% on Monday.
The stock was up 6.9% at 1:02 p.m. in Frankfurt, giving the company a market value of €1.2 billion ($1.3 billion).
Obereder owns about 50% of the Munich-based firm, according to data compiled by Bloomberg.
The controlling shareholder’s price expectations and tight financing markets could make it more difficult to reach an agreement, the people said.
An investor-relations official at Atoss said the company has been receiving inbound expressions of interest from suitors from time to time, though the group isn’t running a sale process.
He declined to comment on whether the founder is exploring options for his stake.
Representatives for Hg, Carlyle and Permira declined to comment.
Atoss develops software to help companies in sectors ranging from health care to transportation manage their workforces, according to its website.
It generated revenue of about €82 million in the first nine months of the year, 18% more than the same period in 2021.
–With assistance from Dinesh Nair.
(Updates with suitor names, company response, latest share move from second paragraph)
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