Just goes to show how much I know. Last week I was saying that SoftwareAG would be a good fit for SAP and today, SoftwareAG swoops on IDS Scheer. From the wires:
On 13 July 2009, SAG Beteiligungs GmbH (currently still registered under the corporate name Kronen tausend445 GmbH) has decided to make an offer to the shareholders of IDS Scheer Aktiengesellschaft, Saarbrücken, to acquire their non-par value bearer shares in IDS Scheer Aktiengesellschaft, each share constituting a notional proportionate amount of EUR 1.00 in the registered share capital, by means of a voluntary public takeover offer against payment of a cash consideration of EUR 15.00 per non-par value share.
Full details are sparse but Software AG says:
The transaction will create a global vendor of infrastructure software and Business Process Management with more than 6,000 employees and more than €1 billion in sales.
Based on IDS's €10.86 closing price, this is a hefty premium. At its last earnings call, IDS showed top line revenue of €90.2 mill with EBITA of €8.2 million.