Software AG has already acquired more than 75% of IDS Scheer AG
September 23, 2009 | by Software AG
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September 23, 2009, Software AG today announced that it now has secured over 75% of the shares of IDS Scheer AG through its wholly owned subsidiary SAG Beteiligungs GmbH after the first Offer Period. The first Offer Period closed on Friday, September 18th and an additional Offer Period of two weeks is expected to start on September 24, 2009.
Future integration steps may include a domination agreement as basis for joint business operations. Joint operations will allow both companies to address the new business opportunities that formed the rationale of the acquisition. This includes product and services cross-selling to a significantly larger customer base, leveraging IDS Scheer’s consulting services expertise and address larger customer projects in key markets.
“We are extremely pleased that we may now start the preparation of aligning our operations to gain additional business opportunities” said Software AG CEO, Karl-Heinz Streibich. “This acquisition is focused on growth for all our business areas and I am happy that we may now demonstrate the benefits of joining forces to our customers, investors and employees.”
Software AG, through its wholly-owned subsidiary SAG Beteiligungs GmbH, continues to offer remaining IDS Scheer share holders €15 a share. An additional offer period of two weeks will start after the final result of the first offer period has been published.
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Source: Software AG, Press release