WILSONVILLE, OR -- As yet another activist investor has begun accumulating shares, Mentor Graphics last week hired an advisor to guide it through its strategic alternatives.

Citing confidential sources, Reuters is reporting the EDA software company has signed on with Bank of America and could be considering a sale.

The media company listed Siemens and Dassault Systemes as among the potential suitors, adding that a private equity route could also be in the cards. A sale of the company is no certain matter, however, the sources said. Other media, including this author, have for years noted the potential for a deal with PTC or Siemens, among others.

In the past month, a PE firm named Elliot Management has bought up more than 8% of Mentor's stock, repeating a move led by Carl Icahn, who held shares in the company from 2010 to earlier this year. In 2008, Mentor rejected a $1.5 billion offer from Cadence.

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