Software AG, a global leader in business infrastructure software, today announced that it now owns 90.002% of the shares of IDS Scheer AG, through its wholly owned subsidiary SAG Beteiligungs.
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%,” said 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 EUR1 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.
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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 modernising, 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, organisations 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 modernising 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 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 revenue of EUR721 million in 2008.
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