Nov 7 Reuters Private equity firm KKR has become the largest shareholder in Japanese software developer Fuji Soft after completing the first stage of a twopart tender offer, KKR said in a statement on Thursday.

The U.S. firm acquired 21.4 million shares, and secured control over 90 of outstanding share options of Fuji Soft, it said.

On Thursday KKR acquired a stake of 35 in the Japanese software developer through FK Co, an entity owned by investment funds it manages, in the first part of its twostage buyout tender offer.

KKR now holds substantial influence over the Fuji Soft39;s future direction, including a potential privatization, which the company39;s board has previously indicated as a way to boost its value.

The second phase of the tender offer, set for midNovember, aims to acquire the remaining shares at an unchanged price of 8,800 yen 57.46 each.

1153.1500 yen

Reporting by Nilutpal Timsina in Bengaluru; Editing by Clarence Fernandez

Source Reuters