Exact Holding Is in Takeover Talks With Several Parties

Exact Holding NV (EXACT), a Dutch software provider, said it is in discussions with several parties about a possible takeover of all of its outstanding shares.

The indicative prices range from 30 to 35 euros a share, it said in an e-mailed statement today, valuing the Delft-based company at as much as 850 million euros ($1.15 billion), according to Bloomberg calculations.

“Exact has a good product within their cloud portfolio that has a lot of potential, so I understand why there’s an interest,” Marc Hesselink, analyst at ABN Amro said by phone. He added that shareholders should be offered a premium to compensate for the potential the cloud product has to offer, meaning the price should come in at the upper side of the price range or even a little above.

Exact’s shares closed 23 percent higher at 31.00 euros in Amsterdam, the biggest jump since its 1999 public offering.

Exact announced on July 1 that it had agreed to sell its Longview unit, a provider of performance- and tax-management software, to Marlin Equity Partners. In November 2013, private equity firm Advent International agreed to buy Dutch cloud-software maker Unit4 for about 1.15 billion euros.

Reuters earlier reported the company is in takeover talks with private equity firms such as Apax and KKR & Co LP. (KKR)

To contact the reporter on this story: Elco van Groningen in Amsterdam at vangroningen@bloomberg.net

To contact the editors responsible for this story: Simon Thiel at sthiel1@bloomberg.net Mark Beech, Robert Valpuesta

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