Software AG has acquired over 90 percent of IDS Scheer AG
Darmstadt, Germany, 10/23/2009
Software AG, a global leader in business infrastructure software, today announced that it now owns 90.002 percent of the shares of IDS Scheer AG through its wholly owned subsidiary SAG Beteiligungs GmbH. The expected outcome is that IDS Scheer AG will 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 percent”, said Software AG CFO, Arnd Zinnhardt. “Our goal remains 100 percent ownership of IDS Scheer AG in order to realize 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.
Software AG | Uhlandstraße 12 | 64297 Darmstadt | Germany
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. As a result, they rapidly build measurable business value and meet changing business demands. Based on our solutions, organizations are able to liberate and govern their data, systems, applications, processes and services – achieving new levels of business flexibility.
Our leading product portfolio includes solutions for high performance data management, developing and modernizing applications, enabling service-oriented architecture, and improving business processes. By combining our technology with industry expertise and best practices experience, our customers improve and differentiate their businesses – faster.
Software AG has 40 years of global IT experience and over 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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