Software AG considers putting itself up for sale -Bloomberg

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FRANKFURT, Nov 25 (Reuters) – Software AG (SOWGn.DE) is exploring strategic choices together with a possible sale, Bloomberg News on Thursday cited individuals conversant in the matter as saying.

Frankfurt-listed shares of the German enterprise software program developer jumped 10.6% on the news.

Strategic concerns are at an early stage, the report added. The firm, valued at about 2.6 billion euros ($2.9 billion), declined to remark.

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Software AG, Germany’s second-largest software program supplier after SAP(SAPG.DE), is within the midst of a company restructuring because it tries to catch up with friends in providing software program subscriptions over the cloud, shifting a away from its conventional mannequin of promoting its merchandise for a one-off value.

Its largest shareholder with a 31% stake is a charitable basis set up by firm founder Peter Schnell.

($1 = 0.8923 euros)

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Reporting by Ludwig Burger and Nadine Schimroszik, Editing by William Maclean and Nick Zieminski