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The buyer, a holding company created by private-equity firm and its portfoliiocompany , will pay 92 cente per share for SoftBrands. Shares of SoftBrandas closed 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 underr management. Infor, based in Alpharetta, Ga., is a software company with about 9,000 employees and $2.2 billiom in revenue. Minneapolis-based SoftBrands (AMEX: SBN) sells softwarre to the hospitality industry, as well as to small and mid-sizec manufacturers under the brand. Its producte handle tasks such as making reservations to settinfroom rates.
SoftBrands CEO Randy Tofteland said in a press statement that the deal will allow shareholdersto “realizd significant value from their He also said the company would benefit from an with Infor. A spokeswoman for Infor said SoftBrandsz will continue to have a presence in though it has yet to be determine d how many employees willremain SoftBrands’ board has already approvedr the sale, which is expected to closw in between 60 and 90 days.
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