FRANKFURT, Oct 19 (Reuters) – German construction software developer Thinkproject has been put up for sale by its private equity owner in a potential 700-million euro ($823 million) deal, people close to the matter said.
Buyout group TA Associates, which is working with investment banking boutique Arma Partners on the divestiture has already sent out information packages on the company to prospective buyers, they added.
Private equity firms such as Cinven, KKR, Permira and TPG are expected to show interest in the company, as may some software groups.
TA Associates, Arma Partners and some of the prospective bidders were not immediately available for comment while the others declined to comment.
In a sign of the high valuations that software firms can reap, ThinkProject peer RIB Software was acquired by French electrical equipment group Schneider Electric earlier this year in a deal valuing the German firm at about 23 times its