The logo of the software provider RIB. The French industrial group Schneider Electric wants to take over the company in a deal worth billions. (picture alliance/dpa)
The French industrial group Schneider Electric wants to take over the German software provider RIB Software. The French company wants to pay 29 euros per share, the companies announced on Thursday. This corresponds to a total value of around 1.5 billion euros and includes a premium of around 40 percent on Wednesday's closing price of 20.62 euros.
RIB Software, which is based in Stuttgart, specializes in construction software for planners, architects and construction companies. Schneider Electric is particularly strong in electrical engineering and industrial automation. The board of directors of RIB Software supports the offer, which includes a minimum acceptance threshold of 50 percent.
The supervisory authorities still have to approve the proposal. Schneider wants to support the growth of RIB, the company said. The conclusion of a control and/or profit and loss transfer agreement is not currently planned.
Meanwhile, RIB has again shown strong growth in the past year. Sales climbed 57 percent to 214.3 million euros, the company, which is listed in the small caps index SDax, announced in Stuttgart on Thursday. Earnings before interest, taxes, depreciation and amortization rose by 32 percent to 50.1 million euros. The company also confirmed the forecast for this year, which was raised at the end of January.
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