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«Want to Shift» offer to buy Finnish software company «Basoir»

NEW YORK (Reuters)

Posted in:
Tuesday 20 November 2018 – 5:45 p
| Last Updated:
Tuesday 20 November 2018 – 5:45 p

Information sources said on Monday that emerging electronic payment technology company Tread Shift had made an offer to acquire Finnish software company Passwire to increase its ability to compete with leading software business giants such as German SAB and Oracle Corp. "American.

"Sheft," a San Francisco-based company backed by a group of Chinese investors, said it made a takeover offer last month, while Passower said last Friday that it was holding back takeover bids without disclosing the offer.

The offer price is likely to be higher than last year's average price of € 38 per share. The average increase in share purchase prices this year is around 34% of the average price in a year, and around 23% in 2017, according to data from Bloomberg News.

Since Thursday, BSAWER, supported by Arugras Capital Partners, has risen almost 47% since Thursday, with a market value of 490 million euros ($ 561 million).

Passware produces software that helps companies manage their expenses, analyze sales and expenses, and collect and receive inventory.

At the same time, TradeShift raised $ 250 million to investors this year, including Goldman Sachs and the Public Pension Fund investment fund, with a market value of $ 1.1 billion.

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