Shares in EQS Soar After Thoma Bravo's First Investment in a German Company
By Nina Kienle
Shares of EQS Group skyrocketed after Thoma Bravo LLC, a U.S. private-equity company, launched a €401 million ($435 million) takeover offer for the German software company. This marks Thoma Bravo's first investment in a German company.
As of 12:14 GMT on Thursday, EQS shares were trading 52% higher at €39.80.
Thoma Bravo is proposing a cash offer of €40.00 per share for EQS, according to statements from both companies. This valuation is based on EQS's website's share-count data.
The offer price represents a significant 53% premium compared to EQS's closing share price on Wednesday.
Both EQS's management and supervisory boards have expressed their support for the bid, pending a detailed review of the offer document.
The investment agreement between Thoma Bravo and EQS includes plans for Thoma Bravo to support EQS's future growth. Thoma Bravo has already secured a stake of approximately 60% in EQS's share capital through commitments from key shareholders.
Thoma Bravo identifies a strong strategic fit in EQS, given the company's exposure to corporate demand for digitization, regulatory compliance, and environmental, social, and governance (ESG) services.
EQS confirms that it has engaged with various interested parties over the past months to find the optimal partner.