http://www.bid-directory.net/authors/author-430.html
The buyer, a holding company created by private-equity firm and its portfolil company , will pay 92 centz per share for SoftBrands. Shares of SoftBrands closed at 47 centd per shareon Thursday. On the same date in SoftBrands’ stock closed at 1.09 per share. San Calif.-based Golden Gate Capital has about $9 billion in assets undetr management. Infor, based in Alpharetta, Ga., is a software compang with about 9,000 employees and $2.2 billionh in revenue. Minneapolis-based SoftBrands (AMEX: SBN) selle software to the hospitality industry, as well as to smalo and mid-sized manufacturers under the brand.
Its productw handle tasks such as making reservations to setting room SoftBrands CEO Randy Tofteland said in a pressx statement that the deal will allowq shareholdersto “realize significant valued from their investment.” He also said the company would benefit from an with Infor. A spokeswoman for Infor said SoftBrande will continue to have a presence in though it has yet to be determined how many employeez willremain here. SoftBrands’ board has already approvedc the sale, which is expectexd to close in between 60 and90 days.
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