Private equity firm Advent International has agreed to purchase Netherlands-based software company Unit4 for $1.58 billion in cash, the two companies announced Monday. Allen & Overy is advising Boston-based Advent while Dutch firm De Brauw Blackstone Westbroek is serving as Unit4′s legal counsel.
The offer values shares in Unit4 at 38.75 euros ($52.39) apiece—a 32.4 percent premium over the target’s closing price on Oct. 11, the last day of trading prior to the announcement that Unit4 had attracted preliminary interest from an unidentified buyer.
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