Atoss Software Founder Considering Sale

Atoss Software AG's founder is exploring strategic options for the company after receiving takeover interest from private equity firms, according to people familiar with the matter.

Atoss Chairman Andreas Obereder is working with advisers to explore all possible options for the company, including a sale, according to people familiar with the matter. The company has attracted interest from several private equity firms, including Hg, Carlyle Group and Permira. However, some potential buyers have dropped out due to concerns over valuation, the people said.

Atoss shares rose sharply on Monday, with the stock up 6.9% at 1:02 p.m. in Frankfurt. This gave the company a market value of €1.2 billion ($1.3 billion).

According to data compiled by Bloomberg, Obereder owns about 50% of the Munich-based firm. The controlling shareholder’s price expectations and tight financing markets could make it more difficult to reach an agreement, the people said.

An investor-relations official at Atoss said the company has been receiving inbound expressions of interest from suitors from time to time, though the group isn’t running a sale process. He declined to comment on whether the founder is exploring options for his stake. The official said that the company is not currently in talks with any potential buyers, and that there is no timetable for a sale.

The representatives for Hg, Carlyle and Permira declined to comment when asked about the situation.

Atoss is a software company that helps businesses in a variety of industries manage their workforces. It generated €82 million in revenue in the first nine months of the year, 18% more than the same period in 2021.