The €38.75 per share offer represents a 32.4 per cent premium compared to the October 11 closing price, and a 54.8 per cent premium compared to the average closing share price in the 12 months prior to that date, Advent said.
It added that the deal gave the company an enterprise value of about €1.28bn, equating to a 14.2-times consolidated EBITDA.
Advent managing partner Fred Wakeman said, “We are looking forward to making another investment in the Netherlands.
“We have been investing in the software industry for over 20 years and believe that UNIT4 has the opportunity to become a global leader in mid-market ERP, with vertical focus and clear technology differentiation.
“We are delighted to partner with Chris Ouwinga as Chairman and José Duarte as CEO to further develop the business.”
The firm received a 22 per cent stake in the pipeline from Canadian oil firm Talisman Energy, France’s Total SA and Madrid-based Cepsa according to the Wall Street Journal, which cited people familiar with the matter.
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