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April 3, 1997updated 05 Sep 2016 12:43pm


By CBR Staff Writer

German database developer Software AG, Darmstadt once had a quoted subsidiary in the US, but it looks as if it will soon be out of the country altogether – although its US unit could become a publicly-quoted US company again. According to Dow Jones & Co, Washington-based investment company Thayer Capital Partners is to acquire the US unit for about $150m, with a view to holding it for three to five years, and then floating a large part of the equity. The Reston, Virginia company did about $100m revenue last year, and plans to grow its payroll to 725 from 625 by the end of the year. Software AG will retain a minority stake in the Americas unit, which covers South America, Japan, Israel and parts of the Caribbean as well as North America.

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