DARMSTADT (Dow Jones)–Software AG is acquiring the US company StreamSets, a provider of data integration, through its subsidiary Software AG USA. A newly acquired subsidiary of Software AG USA is to be merged with StreamSets by way of a “reverse triangular merger”, subject to the fulfillment of certain conditions precedent. The consideration amounts to 524 million euros plus a “usual retention package” and transaction fees, the software company announced on Monday evening. The transaction will be funded by cash and the Group’s existing credit facilities.
Software AG continues to assume that the existing business will meet the published forecast for 2022 and the expectations for 2023. In addition to this organic development, in 2022 with the addition of StreamSets, the Company expects the Group’s non-IFRS product revenue to increase by approximately 12 to 16 percent. The company estimates the impact on non-IFRS EBITA at between EUR -17 and EUR -13 million.
Software AG expects the acquisition to complement organic growth in 2023 and the acquisition of StreamSets in addition to the organic business will result in total revenue well above the €1 billion target.
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DJG / gos
(END) Dow Jones Newswires
February 28, 2022 16:34 ET (21:34 GMT)
