Ciber said the purchase, its second in Europe in three months, values Novasoft at 3.52 euros per share, or about 66.3 million euros (US $79.5 million), based on the 18,825,000 Novasoft shares outstanding. That represents a 41 percent premium over the shares' Friday closing price of 2.50 euros.
Novasoft shares rose as much as 38 percent in early Monday trading in Frankfurt. They were up 0.9 euro at 3.4 euros, after earlier rising to 3.45 euros.
Ciber said Novasoft specialises in implementing German software maker SAP AG's products. It said it expects the purchase to add $20 million to revenue in the fourth quarter of 2004, and $0.01 to profit per share.