The accretive type of play is pretty much gone for all of the big possible acquirers (maybe not Cadence). We are above their trading multiples with a tiny cash reserve (in context of the market cap). So to purchase us would dilute their eps, bonus' and hedge heavily on our growth continuing indefinitely .
In my eyes the only reason would be that they see their own expiry and its a survival play. Or somehow they have an exceptionally high level of confidence in Altium, synergies and/or product integrations.
Either way, it's exceptionally hard for a board to put a 20% + premium on a SP that's up 244% in 12 months, 330% in 24 months & trading at a trailing PE of 63.3 oh AND still have their shareholders think 'value' is being created. Not happening.
I love Altium, their product, their business but oath sharemarkets are stupid sometimes. The level of multiple expansion is nuts, I didn't want to but just had to sell.