(Corrects day of closing price to Tuesday from Monday in first paragraph)
STOCKHOLM, Aug 26 (Reuters) - Private equity firm Triton on Wednesday announced a 3.9 billion crown ($444.92 million) cash bid for IT consultancy firm HiQ International, a 25% premium to the company’s closing price on Tuesday.
Triton said the bid of 70 crowns per share was conditional on reaching an acceptance level of at least 70%.
“HiQ has the opportunity to develop into a Northern European leader by building on its unique platforms...as well as its industry leading innovation, industrial and technology expertise,” Triton’s Head of Nordics Thomas Hofvenstam said in a statement.
“This would, however, require significant, long-term investments over several years.”
$1 = 8.7656 Swedish crowns Reporting by Johannes Hellstrom; Editing by Jacqeline Wong
Our Standards: The Thomson Reuters Trust Principles.