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Axway to take controlling stake in Systar

25 March 2014  |  1024 views  |  0 Source: Systar

Systar (ISIN: FR0000052854-SAR), a leading provider of Operational Intelligence software, was informed that Axway has started exclusive negotiations with the shareholders who jointly control the company for the acquisition of a block representing 61% of Systar's outstanding shares at a price of € 5.97 per share, bringing the total amount to € 34.3 million.

The completion of the acquisition of Systar's controlling block will lead Axway to file a simplified tender offer at the same price of € 5.97 per share, targeting Systar's remaining outstanding shares, in accordance with applicable regulations.

Revenues and results for the third quarter of fiscal year 2013-2014, will be released on April 23rd, 2014

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