A major shareholder of software company Dye & Durham Ltd. wants to take the company private at a 70% premium to last week’s closing price, according to people with knowledge of the matter.

Software maker Dye & Durham has received an unsolicited bid to take it private in a deal valued at C$1.34 billion, or C$20 per share, the Canadian company said on Tuesday, without disclosing the details of the bidder.

Plantro Ltd., controlled by former Dye & Durham chief executive officer Matthew Proud, says it is would offer $20 a share, days after Dye & Durham again shook up its board

Dye & Durham (DYND) soared 35% after a report that a large shareholder made an offer to purchase the company for C$20 a share in cash. Plantro Ltd, which is controlled by Dye & Durham's former CEO Matt Proud,