Silver Lake, a private equity firm has extended an offer to buy Germany’s Software AG in a deal €30/ share in cash. This will value the company at around €2.2 billion. Software AG’s management board is interested in this offer.
Silver Lake, specialized in technology investments, has also provided €344 million to Software AG back in February’22 through convertible bonds. When converted, these bonds would represent almost 9% of AG’s shares.
As of now, Software AG has decided to remain public after exploring multiple options like sale. The company’s sales have been under pressure for almost 10 years due to the slow demand for the database-management solutions.
Software AG, Germany, said on this acquisition. “It does not intend to effect changes to the current headquarters and locations of the company and intends to continue and strengthen the dialogue with all workforce constituencies.”