April 22 (Reuters) – Personal-equity agency Silver Lake has supplied to purchase Software program AG (SOWGn.DE) in a deal that values the German enterprise software program developer at 2.2 billion euros ($2.42 billion).

The provide worth of 30 euros per share in money by Silver Lake-controlled Blitz 22-449 SE represents a premium of 53% to Software program AG’s closing worth of 19.59 euros on Thursday.

In February 2022, Silver Lake had invested 344 million euros within the software program developer’s convertible bond, which upon conversion would characterize practically 9% of issued Software program AG shares, the corporate mentioned in an announcement.

Software program AG Basis, an impartial charitable basis that can also be the principal shareholder in Software program AG, will promote a 25.1% stake within the firm to Silver Lake.

The provide is topic to a minimal acceptance threshold of fifty% of all excellent Software program AG shares plus one share, together with the stake.

Software program AG mentioned its board and the takeover committee are “extremely supportive” of the provide and intend to advocate it to the corporate’s shareholders.

The inspiration will proceed to personal 5% of the corporate’s inventory, the PE agency mentioned in an announcement.

($1 = 0.9102 euros)

Reporting by Juby Babu in Bengaluru; Enhancing by Anil D’Silva

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