Nemetschek AG, a German maker of software used in construction and in the real-estate business, exercised an option to acquire a majority stake in Hungarian rival Graphisoft SE.
Nemetschek AG has acquired 54.3% of the shares of Hungarian peer Graphisoft SE through calling an option it signed with the biggest shareholders at €9 per share on December 21, Graphisoft announced on the website of the Budapest Stock Exchange (BÉT) on Tuesday. Graphisoft, listed on the Budapest Stock Exchange, has 10.6 million shares, and the option price translates to €51.8 million for the majority stake. Nemetschek said it would make a public offer for the outstanding shares at the same price of €9 (Ft 2,270) per share in January.
Nemetschek said its managing board will provide detailed information on the transaction at a press conference in Munich on January 10. Graphisoft closed at 2,201 on December 29, the last trading day of 2006. Nemetschek CEO Gerhard Weiss said that "Together with Graphisoft, Nemetschek will become the major force in Europe for IT planning tools for architect, construction engineering and construction companies. With the planned merger, the two companies had very good chances to obtain a strong market position in the Design area, both inside and outside Europe".
Graphisoft SE, headquartered in Budapest, Hungary, specializes in software solutions for designing buildings. The company was founded in 1982 and at present has 260 employees and a worldwide network of independent distributors. Graphisoft has offices in Hungary, Germany, the USA, Japan, Great Britain, Spain and Finland. More than 100,000 customers in 82 countries use the company’s products. The key strength of the main product, Achicad, is in planning and design.
In 2005, Graphisoft Group, than including real estate operations which were separated into an indepenendent company Graphisoft Park in the summer of 2006, generated consolidated sales of approximately €27 million. Nemetschek has specialist expertise for designing, building and managing buildings Nemetschek, headquartered in Munich is the only provider worldwide which offers IT solutions across the whole design and managing process for buildings.
The products offered deal with designing, building and managing buildings and property. With over 170,000 renowned customers in 142 countries, the software is deployed in 16 languages. In the 2005 financial year, the group generated sales of approximately €99 million. (Mti-Eco, Bloomberg)