Latham & Watkins Advises FSN Capital on Acquisition of Altium's TASKING Business Unit

German team represents leading private equity adviser in acquisition of market leader in embedded software development.

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.

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