Comprehensive M&A data with integrated detailed company information

Schneider Electric bids for RIB Software
Posted on Thursday, 13 February 2020 13:04
French electrical equipment player Schneider Electric has announced an approach to acquire German construction modelling technology provider RIB Software.

Under the terms of the deal, the buyer will pay EUR 29.00 per share in the target, thereby valuing the business at EUR 1.43 billion.

The offer represents a 39.4 per cent premium over Frankfurt-listed RIB’s close of EUR 20.80 on 12th February, the last trading day prior to the offer being announced.

RIB said its administrative board is in favour of the proposed acquisition and supports it, but cautioned that a final decision on the matter will not be made until the offer document has been published.

However, the firm’s chief executive, Tom Wolf, said he intended to sell his stock at the offer price as a signal of confidence.

He and finance chief Michael Sauer will retain a combined 8.7 per cent holding following closing.

No details of when completion can be expected to take place have been disclosed at this time.

According to RIB, the acquisition could create a world leader in the digital and sustainable smart building solutions segment.

Following closing, the target’s existing management team will remain in place.

While unveiling the takeover offer, RIB simultaneously announced its preliminary financials for fiscal 2019.

The firm posted revenue of EUR 214.30 million for the 12 months, marking a 57.0 per cent increase on the previous year.

It added that it expects to carry out between 10 and 20 acquisitions over the coming year.

Zephyr, the M&A database published by Bureau van Dijk, shows the group’s most recent investment closed in August, when it bought a 15.0 per cent stake in Indian Internet of Things and machine learning platform developer Winjit Technologies for an undisclosed consideration.

RIB has a global customer base numbering 100,000 and spanning the architecture, engineering and construction, real estate, transport and public administration sectors, among others.

It claims to be a world leader in the provision of iTWO 4.0 cloud enterprise platform technology.

© Zephus Ltd