(Reuters) -Frankfurt-listed IT services provider Datagroup said on Tuesday that it had entered into an all-cash acquisition agreement with U.S.-based private equity firm KKR , valuing the company at about 450 million euros ($508.32 million).
KKR would pay 54 euros for each Datagroup share held, representing a 33% premium on the company’s last closing price of 40.75 euros.
Datagroup will subsequently delist from the exchange once the purchase is settled. The company expects the deal to close in the third quarter of 2025, it said in a statement.
Datagroup, employing about 3,700 staff across Germany, projected in March that its annual revenue would increase to between 545 million euros and 565 million euros this year.
The deal between KKR and Datagroup was first reported by Bloomberg News.
($1 = 0.8853 euros)
(Reporting by Emma-Victoria Farr in Frankfurt, Janaki Venugopalan and Rajveer Singh Pardesi in Bengaluru; Editing by Shounak Dasgupta and Mohammed Safi Shamsi)
