Farnborough, UK-based Systems Union Group plc, announced that it has reached an agreement to make an offer to acquire MIS AG of Darmstadt, Germany, a leading global provider of business intelligence solutions. MIS will operate as a subsidiary of Systems Union Group within a newly formed Business Intelligence Division. In North America, Systems Union is headquartered in Miami, Florida and MIS AG is located in Newark, New Jersey.
Systems Union has agreed to pay a total consideration of GBP 23.7 million (approximately US $40 million) and, as at 10th October 2003, it had received irrevocable undertakings to accept the offer and a call option in aggregate of 50.7 percent of the MIS shares.
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