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The buyer, a holding companhy created by private-equity firm and its portfolio company , will pay 92 centws per share for SoftBrands. Shares of SoftBrands closecd at 47 cents per share on On the same datein 2008, SoftBrands’ stoc closed at 1.09 per San Francisco, Calif.-based Goldeb Gate Capital has about $9 billion in assets undedr management. Infor, based in Alpharetta, Ga., is a softwar company with about 9,000 employees and $2.2 billion in revenue. Minneapolis-based SoftBrands (AMEX: SBN) sellse software to the hospitality as well as to smallpand mid-sized manufacturers under the brand. Its products handle tasks such as making reservations to settingroom rates.
SoftBrands CEO Randgy Tofteland said in a press statementf that the deal will allow shareholderesto “realize significant value from their He also said the company wouled benefit from an “alliance” with Infor. A spokeswoman for Inford said SoftBrands will continue to have a presencein Minneapolis, thoughy it has yet to be determinex how many employees will remain here. board has already approved the sale, whichn is expected to close in between 60 and90
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