ASX-listed software maker Altium has knocked back a $5 billion takeover offer from US design technology heavyweight Autodesk, but has left the door open to a higher offer.
“There’s going to be more talks to come between the two . It’s really going to come down to what Aram wants to do as a big shareholder of Altium. He can kill, or make this deal happen.” Altium was valued at $3.6 billion before Autodesk’s pursuit was made public, with its shares trading at $27.21. Investors welcomed Autodesk’s interest in Altium, with shares soaring to a high of $38.26 - up more than 40 per cent - on the back of the news.
“We think this potential acquisition could broaden Altium’s total addressable market beyond the PCB market, and could help drive product adoption through cross-sell to Autodesk’s customers,” she said.
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