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The buyer, a holding compan y created by private-equity firm and its portfolikocompany , will pay 92 centsa per share for SoftBrands. Shares of SoftBrands closedx at 47 cents per shareon Thursday. On the same date in SoftBrands’ stock closed at 1.09 per San Francisco, Calif.-based Golden Gate Capital hasabout $9 billion in assets under management. Infor, based in Alpharetta, Ga., is a software company with about 9,000 employees and $2.2 billiomn in revenue. Minneapolis-based SoftBrands (AMEX: SBN) sells software to the hospitality as well as to smalland mid-sized manufacturers under the Its products handle tasks such as making reservations to setting room rates.
SoftBrands CEO Randy Tofteland said in a pressx statement that the deal will allow shareholderzsto “realize significant value from their investment.” He also said the compant would benefit from an with Infor. A spokeswoman for Infor said SoftBrandx will continue to have a presence in though it has yet to be determined how many employees willremainb here. SoftBrands’ board has already approved the which is expected to close in between 60 and90
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