Software AG is exploring strategic options including a potential sale, Bloomberg News on Thursday cited people familiar with the matter as saying.
Frankfurt-listed shares of the German business software developer jumped 10.6% on the news.
Strategic considerations are at an early stage, the report added. The company, valued at about 2.6 billion euros ($2.9 billion), declined to comment.
Software AG, Germany’s second-largest software provider after SAP, is in the midst of corporate restructuring as it tries to catch up with peers in offering software subscriptions over the cloud, moving away from its traditional model of selling its products for a one-off price.
Its largest shareholder with a 31% stake is a charitable foundation set up by company founder Peter Schnell.
Source: Reuters.com