RIB Software Shares Jump After EUR1.4 Billion Bid from Schneider Electric
February 13 2020 - 6:49AM
Dow Jones News
By Carlo Martuscelli
Shares of RIB Software SE (RIB.XE) soared in trading Thursday
after Schneider Electric SE (SU.FR) made a 29 euros-a-share
($31.74) offer for the German construction software company.
The French company said the deal would improve its capabilities
in construction by improving its adoption of digital
technologies.
The deal values RIB at about EUR1.4 billion, and has the backing
of the company's board. Shares of RIB traded 42% higher at
EUR29.16.
Bryan Garnier judges the acquisition as positive for both
parties.
"We believe Schneider is the perfect partner for RIB, as it
brings a strategic long-term shareholder to accelerate the group's
expansion," the European bank said in an analyst note.
It added that while the deal isn't major for Schneider
considering the size of the company, it strengthen its presence in
the dynamic software division.
Write to Carlo Martuscelli at carlo.martuscelli@wsj.com;
@carlomartu
(END) Dow Jones Newswires
February 13, 2020 06:34 ET (11:34 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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