Industrial software designer ESI Group announced on Friday that the American Keysight had acquired a majority block representing 50.6% of its capital and 55.7% of its voting rights, based on a price of 155 euros per share.

As part of this project, formalized last September, Keysight plans to file a mandatory tender offer in the next few days to acquire all the outstanding ESI Group shares it does not already own, at the same price of 155 euros in cash.

If, at the end of the offer, the threshold of 90% of the share capital and voting rights were reached, Keysight would request a squeeze-out of the shares not tendered to the offer, and delist ESI from Euronext Paris.

ESI, which has a strong presence in the automotive and ground transportation, aerospace and heavy industry sectors, employs around 1,000 people in some 15 countries, and last year posted sales of 130 million euros.

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