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The buyer, a holding company created by private-equity firm and its portfolip company , will pay 92 cents per share for Shares of SoftBrands closed at 47 cents per share on On the same datein SoftBrands’ stock closed at 1.09 per share. San Calif.-based Golden Gate Capital has about $9 billion in assets underd management. Infor, based in Alpharetta, Ga., is a softwarw company with about 9,000 employees and $2.2 billion in revenue. Minneapolis-basede SoftBrands (AMEX: SBN) sells software to the hospitality industry, as well as to small and mid-sized manufacturerxs under the brand. Its productsz handle tasks such as making reservationsw to settingroom rates.
SoftBrands CEO Randy Tofteland said in a press statement that the deal will allowq shareholdersto “realize significant value from their investment.” He also said the compang would benefit from an “alliance” with Infor. A spokeswoma n for Infor said SoftBrands will continue to have a presence in Minneapolis, though it has yet to be determinedc how many employees will remain SoftBrands’ board has already approved the sale, whichb is expected to close in between 60 and 90 days.
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