KKR makes an offer to acquire Fuji Soft
Investment firm KKR says it intends to make a tender offer to acquire all the outstanding shares of Fuji Soft Incorporated via FK Co., Ltd., an entity owned by investment funds managed by KKR
Fuji Soft is a system integrator in Japan with a focus on embedded, control and operational software and systems. The company serves various industries based on advanced technologies built on decades of experience with a team of over 10,000 system engineers.
The proposed tender offer price of JPY 8,800 (USD 59,80) per share has been determined based on negotiations between KKR and Fuji Soft. The transaction will be financed predominantly from KKR’s Asian Fund IV.
FK Co expects to start the tender offer in the second half of 2024, subject to regulatory approvals.
“As Japan's IT services industry enters a transformative period of digitalization marked by the expanded use of cloud, IoT, and generative AI, we are pleased to have the opportunity to invest in a market leader in FUJI SOFT. We look forward to leveraging KKR’s global platform and industry expertise in the IT services sector to accelerate FUJI SOFT’s long-term growth and to unlock greater value for Japanese businesses and their customers,” says Hiro Hirano, Deputy Executive Chairman of KKR Asia Pacific and CEO of KKR Japan, in a press release.
