HomeNewsU.S. Tech Behemoth Absorbs IOTA Collaborator: Could This Propel IOTA to New...

U.S. Tech Behemoth Absorbs IOTA Collaborator: Could This Propel IOTA to New Heights?

- Advertisement -
  • U.S. tech investor Silver Lake acquires Software AG, holding a considerable majority stake in the German software company.
  • Software AG’s previous co-innovation projects with IOTA will likely continue under the new ownership, signaling exciting possibilities for the Internet of Things (IoT) and blockchain sectors.

U.S. Tech Investor Silver Lake Triumphs in Software AG Acquisition

In a decisive move that could significantly alter the future of Internet of Things (IoT) and blockchain sectors, U.S. tech investor Silver Lake now holds a dominant stake in Software AG, one of Germany’s oldest software companies.

- Advertisement -

The acquisition, first initiated in April, is now essentially complete, following some minor hurdles. As a result, Software AG, based in Darmstadt, will soon be withdrawn from the MDAX and TecDAX stock indices.

Silver Lake executed this acquisition through its holding company, Mosel Bidco SE. By the end of June, Mosel Bidco SE had secured a majority stake of roughly 63% in Software AG. As of the second acceptance deadline on July 17, the investment company now holds 84.29% of Software AG’s shares. Assuming no intervention from the relevant authorities, this acquisition, which includes debts and is worth over three billion Euros, will be completed within the year.

Silver Lake’s bid for Software AG was a voluntary takeover offer, proposing €30.00 per share for all issued shares, a figure that was more than 50% above the closing price just prior to the offer. This acquisition process stirred some unease when investors from Bain Capital offered a non-binding counteroffer of €34 via their portfolio company, Rocket Software. Ultimately, the acquisition concluded with a final price of €32 per share, over 60% above the closing price prior to the offer.

- Advertisement -

This acquisition has not only brought about a change of ownership for Software AG but also represents a significant moment for IOTA, given its close association with the company. Software AG had previously announced several co-innovation projects with IOTA, and its platform, Cumulocity, was set to integrate IOTA technology for developing a machine-to-machine (M2M) economy. This integration included “blockchain and token-related capabilities” for identity identification, data provenance, integrity, security, and micropayments.

In light of this development, the continuity of these projects, and the synergy between Software AG and IOTA, under Silver Lake’s leadership is certainly a point of interest. This acquisition may serve to boost Software AG’s transformation efforts into a Software-as-a-Service (SaaS) oriented company, and its focus on the market for cloud applications and data integration.

Whether Silver Lake will harness IOTA’s potential to enhance Software AG’s digital business remains to be seen. However, given the investor’s strong track record and the promising prospects of blockchain and IoT, the future indeed looks promising.

- Advertisement -
ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Jane Smith
Jane Smith
As a Bitcoin Journalist, I am dedicated to reporting the latest developments in cryptocurrency, with a particular focus on Bitcoin. Through extensive research and interviews with industry experts, I provide accurate and up-to-date information on the ever-evolving world of cryptocurrencies. My goal is to help readers stay informed and make informed decisions regarding their investments in this rapidly changing field.
- Advertisment -spot_img