Sidetrade launches tender offer for SHS Viveon AG
Sidetrade has agreed to acquire German credit risk management software firm SHS Viveon AG via a public tender offer. The offer price is set at €3.00 per share.
Sidetrade, a global provider of AI-powered Order-to-Cash applications, announced its intention to acquire SHS Viveon AG, a German leader in credit risk management software. The company has entered into a friendly public tender offer agreement with SHS Viveon AG's supervisory board.
The tender offer is scheduled to commence on May 7, 2024, with a closing date of June 17, 2024. The offer price is €3.00 per share in cash, representing a premium of approximately 53% over the 1-year volume-weighted average price of SHS Viveon AG shares as of April 15, 2024.
Sidetrade has already secured a significant portion of SHS Viveon AG's shares, acquiring 68.4% of the outstanding share capital through binding agreements. This stake includes shares already purchased and others to be acquired in the coming months, ensuring Sidetrade will become the majority shareholder upon completion.
Following the acquisition, Sidetrade plans to delist SHS Viveon AG's shares from the Munich stock exchange. The company stated that post-delisting, SHS Viveon AG shares will no longer trade on the open market in Germany.
Founded in 1991 and based in Munich, SHS Viveon AG provides software for automating risk, credit, and compliance management processes. In 2023, the company reported revenues of €8.8 million and serves approximately 80 businesses, including Fortune 100 companies.