KKR to Acquire FUJI SOFT at ¥8,800 Per Share Implying A Preium Of 110.3%, Expanding IT and OT Services

Author: Benzinga Newsdesk | August 08, 2024 04:39am

KKR, a leading global investment firm, today announced that FK Co., Ltd. (the "Offeror"), an entity owned by investment funds managed by KKR, intends to make a tender offer to acquire all the outstanding shares of FUJI SOFT INCORPORATED ("FUJI SOFT" or the "Company"; TSE stock code 9749).

FUJI SOFT is a leading system integrator in Japan with a focus on embedded, control and operational software and systems. The Company serves clients across various industries based on advanced technologies built on decades of experience with a team of over 10,000 system engineers. Under the Company's five-year "Mid-Term Business Plan 2028," FUJI SOFT's vision is to become a leading provider of system, software, and service both in information technology ("IT") and operational technology fields. The Company's five-year plan also outlines its strategy to improve the profitability of its existing businesses, strengthen group synergies, and capture new growth opportunities.

The proposed tender offer price of JPY 8,800 per share has been determined based on negotiations between KKR and FUJI SOFT. The transaction will be financed predominantly from KKR's Asian Fund IV.

The proposed tender offer price represents1:

• A 110.3% premium over the simple average closing price of FUJI SOFT's stock for the 12 months up to October 2, 2023.
• A 97.8% premium over the simple average closing price of FUJI SOFT's stock for the 6 months up to October 2, 2023.

The Offeror expects to commence the tender offer in the second half of 2024, subject to regulatory approvals. For details regarding the conditions for the commencement of the tender offer, please refer to the full text of the filing notice issued today titled, "Notice Regarding the Planned Commencement of Tender Offer for the Shares of FUJI SOFT INCORPORATED (Code: 9749) by FK Co., Ltd."

Posted In: KKR