Ardian is exploring a sale of Swissbit, the Swiss industrial data storage maker, with a potential multibillion-dollar exit that could rank among the largest European hardware sales this year.

The process is still in early stages; UBS has been enlisted to gauge interest from strategic acquirers and rival financial sponsors. A market test will allow Ardian to assess offers without committing to a sale until the numbers are clear.

Swissbit, founded in 2001 through a management buyout of Siemens’ memory division, designs rugged storage and security devices for extreme environments. Headquartered in Bronschhofen, Switzerland, it operates a semiconductor and electronics facility in Berlin.

Ardian acquired a majority stake in Swissbit in 2020 and now seeks to determine whether a full exit aligns with the interest it can generate.