Santa Ana’s MSC.Software Corp. has signed a new deal to be acquired by Symphony Technology Group LLC after the Palo Alto-based private equity firm upped its offer in a monthlong bidding war.
Symphony now is offering $372 million for MSC, a maker of simulation software used to test designs of prototypes for military, aerospace and industrial uses.
The offer tops a $367 million counter offer last week from two private equity firms believed to be San Francisco’s Vector Capital Corp. and Golden Gate Capital.
MSC hasn’t disclosed the names of the counter bidders. New York-based trade publication the Deal.com recently named them as Vector and Golden Gate.
It’s unclear whether Vector and Golden Gate will up their counter offer.
Symphony in July first offered $338 million to take MSC private.
The two counter bidding private equity firms this month have made three rival offers for MSC, with Symphony matching or topping each of them.
MSC now plans to hold a shareholder meeting to vote on the Symphony offer on Oct. 9.
It had set a meeting for Wednesday to vote on Symphony’s original offer and then delayed it last week.
Shares of MSC closed up 2% on a market value of $372 million.
