Software AG Has Already Acquired More Than 75% of IDS Scheer AG
Wed Sep 23, 11:48 AMRESTON, Va.--(BUSINESS WIRE)--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 18, 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.”
About Software AG
With more than 1,000 U.S.-enterprise customers and 700 employees, Software AG's U.S. operation contributes one third of the company's total revenue and is Software AG's largest market presence and R&D location. Software AG has operated nationwide in the U.S. since 1973 through a fully-owned subsidiary, Software AG USA Inc., which is headquartered in Reston, Virginia – also an R&D hub for the company’s core data management and integration technologies. R&D labs for the development of Software AG’s webMethods product suite – offering SOA integration and BPM solutions – include facilities in San José/Silicon Valley, Seattle and Denver. For more information, visit www.softwareag.com/us.
Software AG is the world’s largest independent provider of Business Infrastructure Software. Our 4,000 global enterprise customers achieve business results faster by modernizing, integrating and automating their IT systems and processes. Our leading product portfolio includes solutions for high performance data management, developing and modernizing applications, enabling service-oriented architecture, and improving business processes. Software AG has 40 years of global IT experience and about 3,600 employees serving customers in 70 countries. The company is headquartered in Germany and listed on the Frankfurt Stock Exchange (TecDAX, ISIN DE 0003304002 / SOW). Software AG posted total revenues of €721 million in 2008.
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Software AG
Cheryl Hawkins
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Relations
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or
Norbert
Eder
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