San Francisco based private equity firms Golden Gate Capital and Vector Capital Corp. have been revealed as the mystery suitors in a bidding tiff for MSC.Software Corp. in Santa Ana. The New York based trade publication names deal.com revealed the story.

Golden Gate is focused on investing in technology and retail with an approx amount of $9 billion under management. Whereas, Vector Capital has $2 billion under management, which will be invested in technology companies that have at least $30 million in revenue. The firm also acquired Printronix Inc., an Irvine-based printer maker for $108 million.

Till now, MSC has not named the two firms in regulatory filings, but it will be done if MSC will enter into an acquisition agreement with either of the groups.

It is said that the duo is offering $367 million for MSC, which is more than the latest bid of $361 offered by Palo Alto based Symphony Technology Group LLC, a private equity firm.

The two suitors have made five higher offers together for MSC since September 9. Symphony will either increase its price or walk out of the bid until Monday.

MSC also informed that it is postponing the shareholder meeting that was fixed on September 30 just to vote on the original offer given by Symphony.

MSC is into the making of simulation software that is used for testing the designs of prototypes for aerospace, military and industrial uses. It is expected that the bidding war will protect the company from the troubles that it has been facing for the past 10 years. MSC was once counted amongst Orange County’s biggest software makers, but government probes and acquisitions invited failed turnaround attempts for the company.

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