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Autoform, which makes software that helps carmakers to fashion
sheet metal into new vehicles, has been put up for sale by its
founder in a deal worth up to 600 million Swiss francs ($620
million), the people said.
Bidders who offered less than 15 times Autoform's expected
earnings before interest, taxes, depreciation and amortization (EBITDA)
did not make it to second round of the auction, one of the
people said, adding that the remaining suitors are currently
checking Autoform's books and a deal may be signed by June.
Investment banking boutique Altium is acting as sellside
adviser, they added.
Autoform was founded in 1995 as a spinoff from the Swiss Federal
Institute of Technology.
It operates in a specialized niche of the broader field of
industrial design known as "product lifecycle management" (PLM)
led by names such as Autodesk, Dassault, PTC <PTC.O> and Siemens
<SIEGn.DE>.
Siemens said last month that it plans to continue to buy up PLM
software firms at a steady clip to beef up its core industrial
business.
The German industrial giant agreed in January to buy U.S.
engineering software firm CD-adapco for $970 million, the latest
in a string of acquisitions of companies by Siemens to help
manage products from inception through to service or disposal.
Autoform, Permira, Altium and TA Associates declined to comment,
while Dassault Systemes and Autodesk were not immediately
available for comment.
(Reporting by Arno Schuetze and Oliver Hirt; Additional
reporting by Eric Auchard; Editing by Keith Weir)
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