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TheStreet Open House

CDC Software Offers $105.1M for Chordiant

Stocks in this article: CDCS CHRD

SHANGHAI ( TheStreet) -- CDC Software (CDCS) offered to buy Chordiant Software (CHRD) in a cash-and-stock transaction valued at $105.1 million, or $3.46 a share.

The offer price, CDC said, is a 21% premium over the average closing price for Chordiant shares over the last 30 trading days.

Shares of Chordiant closed Wednesday at $3.33, up 30 cents, or 9.9%.

CDC said it will discuss its offer for Chordiant in a conference call on Friday.

CDC currently holds about 1.3% of Chordiant's outstanding shares.

CDC said it offered two options to Chordiant shareholders. The first option is 40% cash and 60% CDC shares, while the second option is 50:50 split of cash and stock.

CDC said it believes it "would provide Chordiant with the platform to expand globally by leveraging CDC Software's large global customer base, cost efficient product engineering offshore operations in India and China, and its more than 1,000 partners and resellers worldwide."

Chordiant has yet to respond to the proposal.

-- Reported by Joseph Woelfel in New York.

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