(Reuters) – Private-equity firm Silver Lake has offered to buy Software AG in a deal that values the German business software developer at 2.2 billion euros ($2.42 billion).
The offer price of 30 euros per share in cash by Silver Lake-controlled Blitz 22-449 SE represents a premium of 53% to Software AG’s closing price of 19.59 euros on Thursday.
In February 2022, Silver Lake had invested 344 million euros in the software developer’s convertible bond, which upon conversion would represent nearly 9% of issued Software AG shares, the company said in a statement.
Software AG’s board and takeover committee are “highly supportive” of the offer and intend to recommend it to its shareholders, the company said.
($1 = 0.9102 euros)
(Reporting by Juby Babu in Bengaluru; Editing by Anil D’Silva)
