Fujitsu has submitted an offer to acquire Germany's GK Software, a provider of enterprise software catered to large retail company branches.
The Japanese tech giant would pay €190 per share under current terms which include a 31% premium on GK Software's closing price as of February 28, and a 34.7% uplift on its volume-weighted average across the past three months. GK Software's board intends to recommend the offer to shareholders.
The deal is subject to a 55% acceptance rate by GK Software shareholders, as well as regulatory clearance and customary approvals.
However GK Software's founders Rainer Gläß and Stephan Kronmüller make an irreversible commitment to dispose of their combined 40.7% stake, bringing the approval threshold substantially nearer.
Founded in 1990, GK Software has over three decades of expertise supplying retail software. It has mobile PoS systems that let merchants take card payments via their smartphone, and a couple of years back it launched a third-party portal for the mobile PoS that functions like an app marketplace, allowing merchants to embed additional functionality.
Aside from mobile PoS, GK Software also has mobile engagement tools to embed loyalty rewards into retail smartphone apps, and inventory management for monitoring stock levels in store or in the warehouse.
There's also the ability to deploy GK's products in tandem with the retailer's existing technology, particularly software from the global enterprise systems vendor SAP.
GK Software's equity is traded in Frankfurt Stock Exchange and the bourse's trading venue Xetra, with acquisition terms based on the latter. Under the deal terms, its CEO Rainer Gläß will step down from the executive board but will become an adviser with the title honorary chairman.
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