BusinessEuropeTechnologyTop News

Big Software AG investor further backs Silver Lake bid

MUNICH (Reuters) – Software AG Foundation, the largest shareholder in German business software developer Software AG, said on Friday that it continues to support private equity firm Silver Lake Management’s offer to buy the company.

The foundation’s management is “convinced that Silver Lake is the right long-term partner” for Software AG, it said in a statement, adding that it would only support Silver Lake’s activities to develop the business of Software AG.

(Reporting by Alexander Huebner; writing Tom Sims; Editing by Louise Heavens)