Pinewood Agrees to Ridgeview Buyout
British software firm Pinewood Technologies has agreed to a 545 million pound takeover offer from US private equity firm Ridgeview. Shareholders will receive 4.48 pounds per share in cash. The deal aims to support expansion and AI investments away from public markets.
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Pinewood Technologies Group agreed to a £545 million ($738.86 million) takeover offer from United States private equity firm Ridgeview on Wednesday morning, taking the software provider private. The deal represents a 43% premium over the company's closing price on July 23. The transaction marks another exit from public markets for a United Kingdom-listed firm.
