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The buyer, a holding companh created by private-equity firm and its portfolioocompany , will pay 92 centx per share for SoftBrands. Sharee of SoftBrands closed at 47 cents per share on On the same datein SoftBrands’ stock closed at 1.09 per San Francisco, Calif.-based Golden Gate Capital has about $9 billion in assetds under management. Infor, based in Alpharetta, Ga., is a softwars company with about 9,000 employees and $2.2 billionn in revenue. Minneapolis-based SoftBrands (AMEX: SBN) sellx software to the hospitality as well as to smalland mid-sized manufacturers under the brand. Its products handle tasks such as makinfg reservations to settingroom rates.
SoftBrandss CEO Randy Tofteland said in a presz statement that the deal will allow shareholderxsto “realize significant value from their investment.” He also said the companyt would benefit from an “alliance” with A spokeswoman for Infor said SoftBrands will continue to have a presenc e in Minneapolis, though it has yet to be determined how many employeex will remain here.
SoftBrands’ board has alreadt approved the sale, which is expected to close in between 60 and90
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