SoftBrands to be acquired by Infor and Golden Gate
Manufacturing business systems developer SoftBrands, which owns the Fourth Shift brand, is to be acquired by an affiliate of Golden Gate Capital and Infor.
The deal, worth $0.92 in cash per common share (well up on recent months' challenging trading positions), values SoftBrands at around $80 million and is expected to close in 60 to 90 days.
"This transaction allows SoftBrands stockholders to realise significant value from their investment in our company over recent trading levels," comments Randy Tofteland, SoftBrands' president and CEO. "In addition, we increase value to customers through expanded products and services from the alliance with Infor."
Jim Schaper, Infor chairman and CEO, agrees: "As a result of our complementary solutions, origins in manufacturing and focus on the mid-market, the partnership offers compelling benefits to our customers," he says.
