By Carlo Martuscelli

Shares of RIB Software SE (RIB.XE) soared in trading Thursday after Schneider Electric SE (SU.FR) made a 29 euros-a-share ($31.74) offer for the German construction software company.

The French company said the deal would improve its capabilities in construction by improving its adoption of digital technologies.

The deal values RIB at about EUR1.4 billion, and has the backing of the company's board. Shares of RIB traded 42% higher at EUR29.16.

Bryan Garnier judges the acquisition as positive for both parties.

"We believe Schneider is the perfect partner for RIB, as it brings a strategic long-term shareholder to accelerate the group's expansion," the European bank said in an analyst note.

It added that while the deal isn't major for Schneider considering the size of the company, it strengthen its presence in the dynamic software division.

Write to Carlo Martuscelli at carlo.martuscelli@wsj.com; @carlomartu

(END) Dow Jones Newswires

February 13, 2020 06:34 ET (11:34 GMT)