Altium Divests Non-Core TASKING to Support, Enable Investment in Altium 365
December 14, 2020 | AltiumEstimated reading time: 2 minutes
Electronic design software company Altium Limited has entered into a definitive agreement with FSN Capital to sell the assets of its TASKING business for US$110 million. The transaction will be settled in cash with US$100 million up front and $10 million conditional upon achieving revenue targets in Fiscal 2021 post divestment. The transaction is expected to close in the first quarter of calendar 2021, subject to customary closing conditions and regulatory approval.
Altium Chairman Sam Weiss commented, “We are generating real momentum with Altium 365, the world’s first cloud platform for PCB design and realization, and we believe that Altium 365 is critical to enhance long term shareholder value. The divestment of TASKING enables us to singularly focus on our transformative vision and to fast track the building and acquisition of complementary assets.”
Altium CEO Aram Mirkazemi added, “The strategic divestment of TASKING, combined with our recent organizational changes and hard pivot to the cloud, marks an inflection point for Altium in its pursuit of industry transformation. While TASKING is a great business, it does not play a central role in our design to realization strategy for the electronics industry, which is being delivered through our new cloud platform Altium 365. The divestment of TASKING will free up organizational capacity and allow Altium leadership to focus on our main game, which is to expand Altium 365 and accelerate its adoption.”
This transaction will have a one-time positive impact on earnings per share (EPS) in fiscal 2021 reflecting the profit on the sale of the business. First half Fiscal 2021 results will include TASKING as the transaction will close in the second half. Altium’s first half performance remains solid, however, the effect of this transaction combined with ongoing COVID lock-downs in the US, will have a marked impact on our historic first half/second half 45/55 revenue split. Altium remains confident of achieving full year guidance adjusted for the sale of TASKING whose results will not be included in second half revenue and earnings.
FSN Capital is a European private equity firm with a successful track record in software and technology investments. FSN Capital Partner Robin Muerer commented, “TASKING is a market leader in embedded software for the automotive safety space. We are excited to work with TASKING’s management team as we see opportunities to expand TASKING’s product range and continue its strong partnership with Infineon Technologies.”
The full impact of the divestment will be disclosed as part of Altium’s half year results, including the impact on on-going operations.
Suggested Items
Catching Up With AMI EMS President Greg Boyd: Our People Make the Difference
06/04/2025 | Dan BeaulieuI’ve had the privilege to work with countless companies in the electronics manufacturing space, but few have impressed me as deeply as Alternative Manufacturing Inc. (AMI). Based in Winthrop, Maine, AMI is a 100% employee-owned company that embodies the very best of what American manufacturing can be. AMI sets itself apart by its unwavering commitment to quality, transparency, and partnership.
Nolan’s Notes: Moving Forward With Confidence
06/03/2025 | Nolan Johnson -- Column: Nolan's NotesWe’re currently enjoying a revitalized and dynamic EMS provider market with significant growth potential. Since December 2024, the book-to-bill has been extremely strong and growing. Starting with a ratio of 1.24 in December, book-to-bill has continued to accelerate to a 1.41 in April. Yet, there is a global economic restructuring taking place. To say that the back-and-forth with tariffs and trade deals makes for an uncertain market is an understatement. While we may be in a 90-day tariff pause among leading economic nations, the deadline is quickly approaching and that leaves many of you feeling unsettled about what to expect.
atg Luther Maelzer Announces Grand Opening of New Office and Manufacturing Facility
06/02/2025 | atg Luther & Maelzer GmbHAtg Luther Maelzer, a leading supplier of electrical testing solutions for the PCB industry, recently celebrated with a grand opening of their new office and manufacturing facility in Wertheim, Germany.
Arrow Electronics Earns Dual Honors as Dell Technologies Partner of the Year
05/29/2025 | BUSINESS WIREGlobal technology solutions provider Arrow Electronics has received two prestigious awards from Dell Technologies: 2025 OEM Solutions Partner of the Year and 2025 North America Distributor of the Year. The awards were announced at Dell Technologies World, held in Las Vegas in late May.
Standard of Excellence: The Role of Technology in Enhancing the Customer Experience
05/28/2025 | Anaya Vardya -- Column: Standard of ExcellenceMaya Angelou said, “People will not remember what you said, but they will remember how you made them feel.” This makes me think about the importance of delivering an exceptional customer experience. Businesses that embrace technology to streamline interactions, personalize services, and create seamless engagements set new benchmarks in customer satisfaction. Integrating advanced technologies into customer service improves efficiency, enhances engagement, fosters loyalty, and drives business success.