How Altium secured sweet $9.1b deal on Valentine’s Day
JPMorgan’s technology banker with deep ties to Silicon Valley brokered an introduction between the companies that set the stage for last week’s mega deal.
Samuel Weiss spent his Valentine’s Day tethered to his phone. From his office in San Diego, the Altium chairman’s calls lacked romance, but he was nonetheless enamoured with a proposal.
Renesas had formally offered $9.1 billion for Altium – the biggest takeover attempt of an ASX-listed company by a Japanese suitor. Headquartered in the San Diego seaside town of La Jolla, Altium sells software to design printed circuit boards used in electronics.
