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Altium Affirmed as One of Australia’s Greatest Ever Technology Companies on $9b Takeover
February 20th, 2024
Altium Ltd has origins in Hobart in the 1980’s, and sells software to help people design printed circuit boards.
Following an IPO, the stock at one stage reached a low of $0.08, however, in testament to the company’s success, the company has entered a scheme of implementation agreement in February 2024 for Japan’s Renesas Electronics to acquire the company at $68.50 a share (equating to an enterprise value of around $9bn).
Throughout a surge in the shareprice of tech stocks during the COVID low interest rates period, Altium’s shares grew. However; unlike some of its peers, Altium managed to pay dividends out of profits made in recent years, and to sustain its lofty shareprice as interest rates normalised.
Altium has 35 over years of continuous R&D in PCB design and in its 2023 Annual report, the company reported USD $29,530,000 of R&D costs incurred.
Altium must now be affirmed as one of Australia’s greatest ever technology companies.
Please get in touch with our office if you would like to speak to someone about a potential claim, or check out our website for more information.
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News & Research
News & Research
News & Research30 April Statutory Deadline for FY23 R&D Claims – One Week to Go
There is one week to go until the deadline for FY23 R&D Registrations. Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2023 (companies that have a Standard YE for tax) who are yet to do […]
The matter concerns an individual charged by the Commonwealth DPP for attempting to unlawfully obtain a refund under the R&D Tax Incentive. Before being charged, the taxpayer was compulsorily examined by the ATO. The individual had applied to stay the […]
