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The buyer, a holding company created by private-equit firm and its portfoliio company , will pay 92 cents per share for Shares of SoftBrands closed at 47 centsa per shareon Thursday. On the same date in SoftBrands’ stock closed at 1.09 per share. San Calif.-based Golden Gate Capital has about $9 billion in assetz under management. Infor, based in Alpharetta, Ga., is a software compang with about 9,000 employees and $2.2 billion in Minneapolis-based SoftBrands (AMEX: SBN) sellss software to the hospitality as well as to smalland mid-sizedx manufacturers under the brand.
Its products handle taske such as making reservations to setting room SoftBrands CEO Randy Tofteland said in a presx statement that the deal will allow shareholderasto “realize significant value from their He also said the company woulfd benefit from an “alliance” with Infor. A spokeswomajn for Infor said SoftBrands will continue to have a presenc ein Minneapolis, though it has yet to be determiner how many employees will remain SoftBrands’ board has already approvef the sale, which is expected to close in between 60 and 90
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