Envirosuite (ASX:EVS) signed a scheme implementation deed with Ideagen for the UK-based software provider to acquire all the remaining shares in the company for AU$0.090 per share in cash at a valuation of AU$132.2 million, according to a Friday filing with the Australian bourse.

The offer represents a premium of 109% to the closing price of the company's shares on Feb. 24 of AU$0.043 per share, the filing said.

The deal is subject to shareholder and court approvals, with a scheme meeting expected in late July or early August, the filing added.

The board recommends shareholders vote in favor of the scheme in the absence of a superior proposal and subject to an independent expert's assessment.

Perennial Value Management, which has around a 15% stake in the company, intends to vote in favor of the proposed scheme, per the filing.

Envirosuite retained MA Moelis Australia as its financial adviser and King & Wood Mallesons as its legal adviser.

Shares of the company jumped past 21% in recent Monday trade, earlier hitting their highest since January of last year.