(Bloomberg) -- Temenos AG asked for fresh expressions of interest from potential suitors in recent weeks after takeover talks fell apart last year over price, people with knowledge of the matter said.

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The Swiss banking software company, which has a market value of $5.3 billion, is working with advisers to evaluate buyer appetite, according to the people, asking not to be identified discussing confidential information. Private equity firms including EQT AB, Permira, Nordic Capital, Thoma Bravo and KKR & Co. have looked at the business, they said.

Shares in Temenos have fallen 29% to 64 Swiss francs in the past year, a period that’s seen the company come under pressure from activist investor Petrus Advisers to replace Chief Executive Officer Max Chuard and review its strategy.

Chairman Andreas Andreades, who won’t stand for re-election at the upcoming annual meeting, is interested in exploring a sale before his departure, the people said. Still, buyout firms may struggle to offer a high enough price and secure financing, the people said.

Deliberations are ongoing and there’s no certainty any of the private equity firms will follow through with bids. Representatives for Temenos, EQT, Permira, Thoma Bravo and KKR declined to comment. A spokesperson for Nordic Capital didn’t immediately respond to a request for comment.

Temenos has been on the shopping list of tech-focused buyout funds for years, with EQT and Thoma Bravo among those that have pursued it in recent times. Discussions have faltered in the past because of concerns over Temenos’s price expectations and business model as well as lowered guidance.

Buyout firms are monitoring the situation and German software giant SAP SE is also considered an interested party, Swiss outlet Finanz und Wirtschaft reported last week, without saying where it got the information.

The company mainly caters to wealth managers and banks, including Credit Suisse Group AG, offering core software. It counts Swiss billionaire Martin Ebner among its shareholders.

--With assistance from Eyk Henning.

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