Software AG today announced that it now has secured over 75 percent of the shares of IDS Scheer AG through its wholly owned subsidiary SAG Beteiligungs GmbH after the first Offer Period.
ebizQ received the following:
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.
"We are happy with the very positive response to our offer so far," said CFO Arnd Zinnhardt. "The acquisition process is on track and we expect a further uptake of our offer during the additional offer period. We have passed an important milestone and look forward to realizing synergies."
The article above comes from eBizQ. What are the implications of this?
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