Warburg Pincus has agreed to acquire Germany’s PSI Software AG in a transaction valuing the energy and industrial software company at more than €700m ($811m), marking one of the largest private equity takeovers in Germany’s technology sector this year, Reuters reports.

The US buyout firm is offering €45 per share, a roughly 50% premium to PSI’s closing price prior to the announcement. The company will be delisted from the Frankfurt Stock Exchange following completion of the deal.

PSI develops software for managing power grids, gas transmission systems, and factory operations. The Berlin-based company had been seeking new investment to accelerate product development and strengthen its cyber resilience after a 2024 attack that temporarily disrupted its operations.

Warburg Pincus has secured agreements for approximately 28.5% of PSI’s shares from anchor investors, including Norman Rentrop, the company’s largest shareholder with a 23% stake. E.ON, which holds about 18% of PSI, will retain its stake as a strategic investor and will be regarded as acting in concert with Warburg Pincus for the purposes of the transaction.

PSI’s board has endorsed the offer and intends to recommend it to shareholders. Warburg Pincus said it will maintain the company’s current management structure and Berlin headquarters post-acquisition.

Goldman Sachs is advising on the transaction, which is expected to close following regulatory approval.

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