SOFTWARE AG to buy IDS

Frankfurt
The Economic Times (Delhi edition)
Software AG is buying IT consultancy IDS Scheer for an agreed 487 million euros ($681 million) in what will be the first major corporate takeover in Germany this year. The business software company’s offer of 15 euros per IDS share — a 39 percent premium to Monday’s closing price —has been accepted by company founders August-Wilhelm Scheer and Alexander Pocsay, who owned a combined 48 percent of IDS. Software AG said it had not had any problems finding finance for the deal, which will be earnings enhancing in its first full year, although it had to cast its net wider than would have been the case before the financial crisis.