Advent International offered 1.2 billion euros ($1.6 billion) to take UNIT4 private, which the Dutch business software firm said would help it speed up expansion without the pressures of being listed on the stock market.UNIT4 shares jumped more than 8 percent to a high of 38.18 euros on Monday, just short of the 38.75 euro per share cash offer from Advent, a private equity firm that invests in technology and software businesses.Advent's offer represents a 32 percent premium to UNIT4's shares on Oct. 11, before the company said it had been approached by potential buyers.The Dutch company, which competes with firms such as Germany's SAP and U.S.-based Oracle Corp, and Workday Inc, provides cloud computing and other business software services - known as SaaS - for private and public-sector customers.
Workday, Inc. is a provider of enterprise cloud-based applications for human capital management (HCM), payroll, financial management, time tracking, procurement and employee expense management. Shares of WDAY remained unchanged at $75.73. In the past year, the shares have traded as low as $47.74 and as high as $84.42. On average, 900217 shares of WDAY exchange hands on a given day and today's volume is recorded at 0.
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