Delcam, the developer of 'computer aided design' software, has set its sights on potential acquisitions and luring institutional investors as full-year results continued to impress. Finance director Kulwant Singh claimed that Delcam has reached 'optimum size', later adding that the 'only way to grow is through acquisition'. According to Singh five companies - all with 'complementary products' - have approached Delcam regarding possible takeovers or mergers, one of which is described as 'a major competitor'. The past few weeks have also seen the company's long-standing broker Tilney and its corporate adviser Arthur Andersen ousted in favour of the higher profile Williams de Broe, with a view to attracting major institutions. Managing director Hugh Humphreys confirmed 'a research note will be out soon [in April] and we will be looking to talk to people after that'. At present around 70% of the company is owned by its employees. Final results revealed pre-tax profits surging 58% to £1.6m (£1m) on sales up to £17m (£15.8m).