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BERLIN - Private equity firm Warburg Pincus announced Monday it will launch a voluntary public takeover offer for PSI Software SE, valuing the German energy and industrial software provider at approximately €702 million.
The offer of €45 per share represents an 84 percent premium to PSI’s closing price on October 8, according to a press release statement. Warburg Pincus has already secured commitments from shareholders representing 28.5 percent of PSI’s outstanding shares.
E.ON, which holds a 17.77 percent stake in PSI, will retain its position and has entered into a non-tender agreement with Warburg Pincus. The two companies have established a framework agreement to govern their future collaboration with PSI.
PSI’s management board and supervisory board support the offer and intend to recommend shareholders accept it, pending review of the formal offer document.
The transaction aims to accelerate PSI’s transformation toward Software-as-a-Service and cloud-native solutions while expanding its global presence in energy and industrial software markets.
"Partnering with Warburg Pincus provides the experience, financial strength, and operational backing needed to accelerate the execution of our growth strategy," said Robert Klaffus, CEO of PSI.
Under terms of the investment agreement, Warburg Pincus committed to maintaining PSI’s headquarters in Berlin and supporting its current management team and employees.
The offer is subject to a minimum acceptance threshold of 50 percent plus one share, with E.ON’s shares counting toward this threshold. The transaction is expected to close in the first half of 2026, pending regulatory approvals.
Warburg Pincus indicated it plans to pursue a delisting of PSI shares following the completion of the offer, though it agreed not to enter into a domination agreement for two years after closing.
The offer document will be published following approval by German financial regulator BaFin.
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