Basware Surges After M&A Approach Valuing It at $680 Million (1)

A consortium of investors offered to buy Finnish software company Basware Oyj in a deal valuing its total equity at about 620 million euros ($680 million), sending the share soaring the most on record.

The investor group comprising Accel-KKR, Long Path and Briarwood offered 40.10 euros a share in cash for the company, according to a statement on Thursday, a premium of almost 95% to the shares’ closing price on Wednesday. Basware shares rose as high as 40.15 euros each as trading started in Helsinki. The stock had lost a third year-to-date before the offer.

Basware makes software that ...