Dow Jones Newswires: Silver Lake to launch $2.42 billion takeover offer for Software AG

April 24, 2023

Silver Lake is acquiring Software AG for about 2.2 billion euros ($2.42 billion), the German software maker said Friday.

The deal values Software AG
SOW,
+49.42%
at EUR30 per share.

The Software AG Foundation supports the deal and is selling a 25.1% stake to Silver Lake, it said, noting that Silver Lake aims to delist Software AG shares.

Software AG said its board welcomed the voluntary public tender offer and intends to recommend its approval.

Silver Lake had already invested EUR344 million in Software AG via a convertible bond in Feb. 2022.

Software AG also provided an update on its first-quarter earnings and said it is performing in line with market expectations. Guidance remains unchanged, it added.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

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