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Sources: EXCLUSIVE: German PSI Software is nearing a takeover, as investors circle around.

Three people with knowledge of the situation said that Germany's PSI Software, a maker of software to manage energy networks, is on the verge being acquired by a group financial investors.

One source said that PSI is looking for funding to develop next-generation products. PSI is currently recovering from last year's cyberattack.

Sources said that among the potential suitors were technology investors Thoma, HgCapital, and Warburg Pincus. A decision could be reached within a few days.

The PSI share price surged by 13.9% at 1514 GMT on the news.

PSI's software, which helps power and gas grids, as well as factories run, posted a loss of 15,2 million euros (17.62 million dollars) last year, as it was hampered for weeks by the hacker attack.

The group's sales for 2024 are expected to be 260.8 million euro, a value of close to 400 millions euros at the stock exchange.

The management of PSI has predicted a 10% rise in revenue and a return of profits before tax and interest for this year.

The group's peers, including Norway's Volue are cutting costs. However, this is unlikely to have an impact on the industry before 2026.

E.ON is the second largest shareholder in PSI, with nearly 18% of its stock. It intends to keep its stake.

Norman Rentrop, a German newsletter publisher and businessman, is PSI’s largest shareholder. He holds a 23% share.

PSI's and Norman Rentrop’s investment holding did NOT respond immediately to a comment request.

Thoma Bravo and Warburg Pincus, as well as E.ON and HgCapital, declined to comment.

(source: Reuters)