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Apax Partners to Acquire Exact Holding for $930 Million

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Apax Partners LLP agreed to buy Exact Holding NV for 730 million euros ($930 million) to back the Dutch business-software provider’s push into cloud computing. Exact stock rose the most in three months.

The bid of 32 euros a share is 27 percent higher than Exact’s closing price on July 10, the day before the company said it was in talks with several parties. The stock jumped as much as 16 percent today. Exact plans a shareholders’ meeting on the deal in January and wants to complete the transaction in February, Chief Executive Officer Erik van der Meijden said.