RIB Software SE (RSTAY.PK) said Thursday that French energy management firm Schneider Electric SA (SBGSF.PK) has announced its intention to launch a voluntary public tender offer to acquire the company for 29 euros per share.
RIB Software also reported an increase in revenues and EBITDA for fiscal 2019.
The company noted that Schneider Electric has announced its intention to launch a voluntary public tender offer to RIB shareholders of 29 euros per share. The offer price corresponds to premium of 41 percent to the last closing price of RIB shares.
RIB Software’s Administrative Board supports the offer.
The company noted that Schneider Electric has no intention to enter into a domination agreement and/or profit and loss transfer agreement.
In addition, RIB Software has entered into a business combination agreement with Schneider Electric. The companies intend to create a global leader in digital and sustainable smart building solutions. As a strategic partner, Schneider Electric will actively support the development of RIB Software.
For fiscal 2019, RIB Software reported revenues of 214.3 million euros, up 57 percent compared to the previous year. EBITDA for the year grew 32 percent from the prior year to 50.1 million euros.
Looking ahead to fiscal 2020, RIB Software confirmed its outlook for revenue to reach 270 million euros to 310 million euros, with an EBITDA of 57 million euros to 65 million euros.
About Schneider Electric
Schneider Electric is leading the Digital Transformation of Energy Management and Automation in Homes, Buildings, Data Centers, Infrastructure and Industries. With global presence in over 100 countries, Schneider is the undisputable leader in Power Management – Medium Voltage, Low Voltage and Secure Power, and in Automation Systems. We provide integrated efficiency solutions, combining energy, automation and software. In our global Ecosystem, we collaborate with the largest Partner, Integrator and Developer Community on our Open Platform to deliver real-time control and operational efficiency. We believe that great people and partners make Schneider a great company and that our commitment to Innovation, Diversity and Sustainability ensures that Life Is On everywhere, for everyone and at every moment.