FSN Capital V* has signed an agreement to acquire 100% of TASKING, a leading provider of software tools for autonomous driving development, from Altium Limited.

Decem­ber 16, 2020

Altium Lim­it­ed (ASX:ALU) has entered into a Defin­i­tive Agree­ment with FSN Cap­i­tal to sell the assets of its TASKING busi­ness.

TASKING offers high-per­for­mance, embed­ded soft­ware develop­ment tools for auto­mo­tive OEMs and Tier 1 sup­pli­ers. Its strate­gic part­ner­ships with semi­con­duc­tor man­u­fac­tur­ers, OEMs, and sup­pli­ers makes TASKING a lead­ing play­er in the embed­ded soft­ware develop­ment indus­try for advanced dri­ving assis­tance sys­tems (ADAS) and autonomous dri­ving.

TASKING pro­vides com­plete develop­ment envi­ron­ments that allow soft­ware engi­neers to cre­ate reli­able, safe, and high-per­for­mance embed­ded soft­ware appli­ca­tions. Over 50,000 engi­neers around the globe rely on TASKING com­pil­ers and debug­gers every day for their develop­ment needs and mil­lions of cars are run­ning on code devel­oped with TASKING’s tools.

Robin Mürer, Part­ner at FSN Cap­i­tal Part­ners (invest­ment advi­sor to the FSN Cap­i­tal Funds) , com­ment­ed: “The auto­mo­tive indus­try is see­ing a fun­da­men­tal shift to soft­ware pow­ered capa­bil­i­ties – not least to achieve autonomous dri­ving over time. At the same time, the require­ments and reg­u­la­tions for soft­ware in auto­mo­tive appli­ca­tions are dis­parate­ly high­er than in most other indus­tries. TASKING is a mar­ket-leader in develop­ment tools for safe, secure and per­for­mant soft­ware develop­ment. We are excit­ed to part­ner with Franz Maidl and the high­ly skilled TASKING team in Ger­many, the Nether­lands, the US, China, India and Japan as we see oppor­tu­ni­ties to expand TASKING’s prod­uct range and drive their pres­ence with cus­tomers around the world.”

Franz Maidl, GM at TASKING, said: “The acqui­si­tion will estab­lish TASKING as a lead­ing inde­pen­dent soft­ware provider for safe­ty crit­i­cal appli­ca­tions. FSN Cap­i­tal will pro­vide TASKING with the flex­i­bil­i­ty to fuel our many growth oppor­tu­ni­ties as a stand­alone com­pa­ny.  The back­ing of FSN Cap­i­tal is tes­ta­ment to the tremen­dous track record our prod­ucts and employ­ees have deliv­ered so far, as well as the growth oppor­tu­ni­ty and demand in our mar­kets.  The entire TASKING team is thrilled to con­tin­ue the jour­ney togeth­er and is look­ing for­ward to a bright future for our solu­tions, our team, and espe­cial­ly our cus­tomers”. 

The trans­ac­tion was exe­cut­ed on a pro­pri­etary basis by FSN Cap­i­tal V. It is sub­ject to approval from applic­a­ble author­i­ties.

FSN Cap­i­tal V was advised by McK­in­sey, Altos Advi­sors, PwC, Lath­am Watkins, Cross­lake Inter­na­tion­al, Frank Part­ners and Marsh.

* FSN Cap­i­tal GP V Lim­it­ed act­ing in its capac­i­ty as gen­er­al part­ner for and on behalf of each of FSN Cap­i­tal V L.P., FSN Cap­i­tal V (B) L.P. and FSN Cap­i­tal V Invest L.P. 

For more infor­ma­tion please con­tact the fol­low­ing per­sons at FSN Cap­i­tal Part­ners (invest­ment advi­sor to the FSN Cap­i­tal Funds):

Robin Mürer, Part­ner
rm@fsncapital.com

Morten Welo, Part­ner & COO/IR
mw@fsncapital.com

This Press Release does not con­sti­tute an offer or solic­i­ta­tion in any juris­dic­tion to invest in FSN Cap­i­tal VI and should not be con­sid­ered to be an invi­ta­tion or induce­ment to engage in any invest­ment activ­i­ty.