ESW Holdings, which has already secured a 51% stake in global retailing software company SLI Systems, offered 63c per share, a 117% premium on the company's last, pre-offer trading price of 30c.
An independent adviser's report valued SLI's shares in the range of 37c-53c; the 63c still offers a 23% premium on the top of that range.
ESW is also seeking to buy all unlisted options for SLI shares, ranging in price from 3c to 40c per option.
SLI independent chairman Greg Cross said in a market update yesterday the offer was an ''attractive opportunity'' for share and option-holders to realise value, and eliminate the risks SLI was facing implementing a new product strategy.
ESW already holds agreements with 18 SLI shareholders to sell their stakes, which represents 51% of SLI's shares.
''The SLI board and executive team have for some time been considering a range of strategic options for the company as it has steered its managed services business into profitability and invested in the development of new products to return SLI to growth,'' he said.
He encouraged shareholders to ''accept promptly''.
One of the offer's conditions is ESW Holdings attains 90% acceptances - meaning it can compulsorily purchase the outstanding 10% of shares outstanding - but it can waive the condition.
SLI's e-commerce software assists online retailers achieve higher sales and repeat customers, seeking to generate more traffic, convert more shoppers into buyers and increase order values.
SLI started in 2003 and was listed on the NZX in mid-2013, posting its maiden profit, of $4 million, for its past year-to-June trading.
SLI's 2013 initial public offering raised $27 million, at $1.50 a share.
Earlier this year, major shareholders ANZ and Pioneer capital sold their respective stakes, for about 25c per share.
