December 17, 2020
Latham & Watkins LLP advised FSN
Capital on the acquisition of the TASKING business unit from Altium Limited.
Funds advised by FSN Capital will acquire the TASKING business unit which is
currently still fully integrated into the Altium Group, for a purchase price of
up to US$110 million. The transaction is expected to close in the first
quarter of 2021 and is subject to customary regulatory clearances. By closing
of the transaction, TASKING will have been completely carved out of the Altium
Group and transferred into its own corporate structure.
TASKING is a market leader in embedded
software development for a diverse range of industries particularly Tier-1
automotive suppliers and industry-leading car manufacturers. TASKING tools have
been used for over 25 years by developers and the world's leading companies to
meet the demands of embedded software development.
Altium is a multinational software
corporation headquartered in San Diego, California, that focuses on electronics
design systems for 3D PCB design and embedded system development.
Established in 1999, FSN Capital is a
leading private equity adviser in Northern Europe with over €2 billion under
management. FSN Capital Funds focus on making control investments in companies
operating in the Northern European region with enterprise values between €50
million and €300 million.
Latham & Watkins LLP represented FSN
Capital on its transaction with a team led by Munich partner Rainer Traugott
and associate Stephan Hufnagel, with Frankfurt counsels Thies Deike and
Christina Mann, Munich associates Anja Schindler, Corinna Freudenmacher and
Düsseldorf associate Felix Gasten. Advise was also provided by Munich partner
Dr. Christian Jahn and associate Ludwig Zesch on finance matters; Munich
partner Thomas Fox and Hamburg associate Simon Pommer on tax matters; Munich
partner Tobias Leder and associate Kristina Steckermeier on employment matters;
Frankfurt partner Susan Kempe-Müller on corporate/IP matters; Hamburg counsel
Jana Dammann on antitrust matters; Frankfurt counsel Joachim Grittmann and associate
Alexander Wilhelm on regulatory matters; and Frankfurt associates Wolf-Tassilo
Böhm and Tarik Arabi on data security matters.