Software AG has announced that it now owns 90,002% of the shares of IDS Scheer AG through its wholly-owned subsidiary SAG Beteiligungs. It is expected that IDS Scheer will now be removed from the Frankfurt Stock Exchange indices due to insufficient Free Float.
“This will free index tracking funds to offer their holdings to Software AG and is an important step in reaching the squeeze out threshold of 95%," says Software AG CFO, Arnd Zinnhardt. “Our goal remains 100% ownership of IDS Scheer AG in order to realise synergies and fully exploit the growth potential.”
The merger will create a global producer of infrastructure software and business process management software with more than 6 000 employees and more than €1-billion in revenue.
The joint company strategy will be clearly focused on growth. The growth drivers will be the increased revenue of the combined product offering, cross-selling to a ca. 10 000 strong customer base, enhanced market access and the specialist expertise of IDS Scheer's consultancy business.