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The buyer, a holdinvg company created by private-equity firm and its portfoli company , will pay 92 cents per shares for SoftBrands. Shares of SoftBrands closec at 47 cents per sharseon Thursday. On the same date in 2008, stock closed at 1.09 per share. San Calif.-based Golden Gate Capitalp hasabout $9 billion in assets undee management. Infor, based in Alpharetta, Ga., is a software company with about 9,000 employees and $2.2 billionn in revenue. Minneapolis-based SoftBrands SBN) sells software to the hospitality industry, as well as to smalkl and mid-sized manufacturers under the Its products handle tasks such as makingh reservations to settingroom rates.
SoftBrands CEO Rand Tofteland said in a press statemen that the deal will allow shareholdersto “realize significant value from theit investment.” He also said the company would benefit from an with Infor. A spokeswoman for Infoe said SoftBrands will continue to have a presencein Minneapolis, thougj it has yet to be determineed how many employees will remaijn here. SoftBrands’ board has already approved the which is expected to close in betweeh 60 and90 days.
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