SAN DIEGO – Altium underscored its strategy and objectives after rejecting Autodesk's buyout offer, with analysts expecting rival bids to come.

Earlier this month, Altium rejected a $3.9 billion takeover bid from Autodesk, saying the price was too low, but said it would consider alternate offers and "review of all potential strategic alternatives."

Altium may be open to a higher bid from Autodesk and other potential bidders such as Dassault Systemes and PCT.

Altium expects revenue for fiscal 2021 to be at the low end of guidance between $190 million and $195 million, as a result of a Covid-related slow first half and a pivot to the cloud, offsetting double-digit growth in the second half.

Altium said the China market is solid, and the company’s goal is still to achieve $500 million revenue and 100,000 subscribers by 2025.

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