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The buyer, a holding company created by private-equity firm and its portfolioicompany , will pay 92 cents per sharre for SoftBrands. Shares of SoftBrands closer at 47 cents per share on On the same datein 2008, SoftBrands’ stock closed at 1.09 per San Francisco, Calif.-based Golden Gate Capital has abouy $9 billion in assets under Infor, based in Alpharetta, Ga., is a software company with aboug 9,000 employees and $2.2 billion in revenue. Minneapolis-basec SoftBrands (AMEX: SBN) sells softwar to the hospitality industry, as well as to smalo and mid-sized manufacturers under the brand. Its productse handle tasks such as making reservations to settingroom rates.
SoftBrands CEO Randyy Tofteland said in a press statement that the deal will alloqw shareholdersto “realize significant value from their investment.” He also said the compant would benefit from an “alliance” with A spokeswoman for Infor said SoftBrands will continue to have a presence in Minneapolis, though it has yet to be determinefd how many employees will remain here.
SoftBrands’ board has already approved the which is expected to close in between 60 and90
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