Software company Qt Group has announced the recommended public cash purchase offer I.A.R. Systems Group AB:n (IAR) for shareholders in the B shares of the Series. IAR is listed on the Stockholm Stock Exchange.
IAR offers software and services to develop embedded software. The company was founded in 1983.
The offer consideration is 180 Swedish crowns for each IAR share. The offer appreciates IAR for approximately 2,293 million Sweden or approximately EUR 204 million. The deal is a significant size for QT Group, with a market value of approximately EUR 1.5 billion.
The bidding fee includes a premium of approximately 63.6 percent compared to the average price of a three -month trading rate on the IAR share in NASDAQ in Stockholm before the purchase offer is published.
QT finances the bid with cash and debt.
The bid is unanimously recommended by the IAR Board. Shareholders representing approximately 25.8 % of the total number of outdoor shares have undertaken to accept the bid and shareholders representing about 10.9 % of the total number of outdoor shares have strengthened their support and intention to approve the bid. In total, owners representing 36 % of the holding are behind the transaction.
QT intends to strengthen its customer offering globally
“We have a wide range of products that cover all stages of the product development process and a clear strategy to strengthen our position as a multi -product company, while IAR is a valued Embedded System Supplier. By connecting QT Group and IAR, we expand our target market and confirm our presence and customer supply Globalist.” Juha Varelius justifies the trade in the bulletin.
“At the same time, we support the transition of IAR to an order -based business model – the transition that we understand well because we have done it ourselves successfully. By this, we have made an attractive offer for IAR shareholders that reflect the benefits that we see as IR’s integration into QT Group”, Varelius continues.
In addition to its strategy, the QT Group is not only organic growth, but also to actively search for precision acquisitions that support its strategy through acquisitions. QT Group has been closely following the strategic and operational development of IAR for a long time.
The QT Group emphasizes the complementary product range and the expansion of the target market. QT Group has in-depth expertise in product development for mobile and desktop applications and embedded devices at all stages of the process, from user interface design to software development, quality assurance and production, while IAR has strong expertise in the embedded software.
In addition, according to the announcement, the IAAR commercial programming language translator offer would allow the QT Group to be significantly accessible to the broader MCU market (micro processors), which are driven by, among other things, the safety requirements of operations. The merger would increase value to current IAR customers by expanding the offering of the QT Group’s Software Quality Solutions business unit, especially in the area of functional security.
Accessibility is improved
IAR and QT Group have the presence in several cities around the world. By combining sales and customer support functions, the united company could, in QT Group’s view, strengthen its market position in the current market, positioning global customers with a local customer experience.
IAR has started a transition to an order -based business model to enable customers to use the entire product range of IAR and the seamless use of the service package. The QT Group believes that it can support and facilitate this transition by utilizing its experience of order -based models to promote long -term growth and customer value.