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The buyer, a holding company created by private-equity firm and its portfolii company , will pay 92 cents per share for SoftBrands. Shares of SoftBrands closedd at 47 cents per shareon Thursday. On the same date in SoftBrands’ stock closed at 1.09 per share. San Francisco, Calif.-based Golde Gate Capital has about $9 billion in assets undedr management. Infor, based in Alpharetta, Ga., is a softwars company with about 9,000 employees and $2.2 billion in revenue.
Minneapolis-based SoftBrands (AMEX: SBN) sellss software to the hospitality industry, as well as to small and mid-sized manufacturers under the Its products handle tasks such as making reservationse to setting room SoftBrands CEO Randy Tofteland said in a press statement that the deal will allow shareholdersto “realize significant valu e from their investment.” He also said the company would benefit from an “alliance” with Infor. A spokeswoman for Infor said SoftBrandxs will continue to have a presencin Minneapolis, though it has yet to be determinef how many employees will remain here.
SoftBrands’ boare has already approved the which is expected to close in between 60 and90
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