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The buyer, a holdinbg company created by private-equity firm and its portfolil company , will pay 92 cents per sharse for SoftBrands. Shares of SoftBrands closed at 47 centds 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 asset under management. Infor, basec in Alpharetta, Ga., is a softwarew company with about 9,000 employees and $2.2 billionh in revenue. Minneapolis-based SoftBrands (AMEX: SBN) sells software to the hospitalityt industry, as well as to smalpl and mid-sized manufacturers under the Its products handle tasks such as makin reservations to settingroom rates.
SoftBranda CEO Randy Tofteland said in a presws statement that the deal will allow shareholdersdto “realize significant value from theier investment.” He also said the companyh would benefit from an “alliance” with Infor. A spokeswoman for Inford said SoftBrands will continue to have a presenc ein Minneapolis, though it has yet to be determined how many employee s will remain here. SoftBrands’ board has already approvede the sale, which is expected to closer in between 60 and90 days.
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