KKR lifts stake in Japan's Fuji Soft, ends bidding war with Bain

Protracted battle highlights how Japan has become a dealmaking hotbed

KKR's Fuji Soft buyout would be the largest take-private deal in Japan so far this year. (Photo by Nikkei)

February 20, 2025 20:26 JST

TOKYO (Reuters) -- Japan's Fuji Soft said on Thursday that KKR now owns nearly 58% of the company after the second stage of a tender offer, ending a fierce battle with rival Bain Capital to take the software developer private.

The two private equity powerhouses had engaged in a protracted bidding war for Fuji Soft. KKR's two-stage tender offer values the company at roughly $4.1 billion, according to Reuters calculations.