(Reuters) -Private equity firm Warburg Pincus plans to buy German software firm PSI Software for more than 700 million euros ($813.26 million), the companies said on Monday.

Reuters first reported on both a nearing takeover of PSI on Friday and Warburg Pincus’ offer for the software company on Sunday.

PSI’s software helps run power and gas transmission grids as well as factories. It is recovering from a cyberattack last year and on Friday it confirmed that it was in talks to sell itself following the Reuters report.

Its stock jumped nearly 11% on Friday after the news broke and closed at 33.2 euros a share.

Warburg Pincus’ deal will value PSI at 45 euros a share, a premium of about 50% from the software company’s closing price on Thursday.

PSI said its board supports Warburg Pincus’ o

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