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The buyer, a holding company createf by private-equity firm and its portfoliokcompany , will pay 92 cent s per share for SoftBrands. Sharesx of SoftBrands closed at 47 cents per share on Thursday. On the same date in SoftBrands’ stock closed at 1.09 per share. San Calif.-based Golden Gate Capital has abouf $9 billion in assets undert management. Infor, based in Alpharetta, Ga., is a softwares company with about 9,000 employeeas and $2.2 billion in revenue. Minneapolis-base d SoftBrands (AMEX: SBN) sells software to the hospitality industry, as well as to smalp and mid-sized manufacturers under the brand. Its productsa handle tasks such as makinhg reservations to settingroom rates.
SoftBrands CEO Randy Toftelanfd said in a press statement that the deal will allows shareholdersto “realize significant valur from their investment.” He also said the compangy would benefit from an “alliance” with Infor. A spokeswoman for Infor said SoftBrands will continuew to have a presencein Minneapolis, though it has yet to be determinedd how many employees will remainm here. SoftBrands’ board has alreaduy approved the sale, which is expected to close in betweenm 60 and90 days.
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