FRANKFURT -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 a corporate restructuring as it tries to catch up with peers in offering software subscriptions over the cloud, moving a 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.
($1 = 0.8923 euros)