03:35 AM EST, 02/20/2025 (MT Newswires) -- KKR (KKR) said Thursday it has acquired enough shares in its two-stage tender offer to become the majority owner of Fuji Soft and will proceed with plans to take the Japanese software giant private.

The company said it received tenders of more than 19.25% of additional Fuji Soft shares, giving it a nearly 58% ownership stake and more than the 53.22% needed to conduct a squeeze-out.

The process will result in KKR becoming 100% owner of Fuji Soft through the squeeze-out, with an extraordinary general meeting for the process scheduled for late April, the company said.

KKR said the process is taking place four months later than anticipated because of Bain Capital's announcement of a rival tender offer.

Bain Capital declined to comment.