Keysight announces the results of the public tender offer for the shares of ESI Group

  • The Autorité des Marchés Financiers (AMF) has published the final results of the tender offer initiated by Keysight Technologies, Inc. through its wholly-owned subsidiary Keysight Technologies Netherlands B.V, for the shares of the French company ESI Group (the “Offer”).

Keysight Technologies had launched a tender offer for the shares of ESI Group on December 1, 2023. Since the beginning of November 2023, the American company, which specializes in electronic test instrumentation, had held a controlling stake representing 50.6% of the capital of ESI Group, a French publisher of virtual prototyping software.

On settlement-delivery of the Offer, which will take place on January 18, 2024, Keysight will hold a total of 6,055,000 ESI Group shares, representing 98.2% of the share capital and 96.4% of the theoretical voting rights of ESI Group.

On the basis of this result, Keysight will shortly submit a request for implementation of the squeeze-out to the AMF.

The squeeze-out will be subject to the same financial conditions as the Offer, i.e. 155 euros per ESI Group share in cash.

Trading in ESI Group shares has been suspended pending implementation of the squeeze-out.

Founded in 1973, ESI Group provides software solutions for predictive physical modeling and virtual prototyping. Operating mainly in the automotive and ground transportation, aeronautics and heavy industry sectors, the French company is present in over 15 countries and employs 1,000 people worldwide. In 2022, it reported sales of 130 million euros. It is listed in compartment B of Euronext Paris.