Buyout funds Hellman & Friedman and Vista Equity Partners have made rival bids for German business software maker TeamViewer in a deal worth more than $2 billion, sources close to the matter told Reuters.

Permira, which has controlled the Goeppingen-based business since 2014, is working with investment banking boutique Qatalyst Partners, a San Francisco-based technology-focused advisory firm, to evaluate rival takeover proposals which were recently submitted by the two U.S. funds, the sources said.

A decision could be made soon, two of the sources said, adding discussions are in the final stages.

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