US private equity firm Silver Lake has finally acquired a majority holding in Software AG after increasing its stake in the software development specialist to 63%, according to a report by Reuters, and will now pursue a de-listing of the company.
Earlier this month, Silver Lake upped its stake to 41% after Bain Capital and Rocket Software agreed to sell their Software AG shares to the tech investment specialist.
Back in April, Silver Lake offered to buy Software AG for €30 euros per share, valuing the German software developer at €2.2 billion euros ($2.39 billion) before upping its bid to €32 per share following a counteroffer from Bain Capital owned Rocket.
Silver Lake subsequently secured the backing of Software AG’s management and supervisory boards despite Bain’s higher €36-per-share offer.
