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The buyer, a holding company createe by private-equity firm and its portfolik company , will pay 92 cents per share for Shares of SoftBrands closed at 47 cents per share on On the same datein 2008, stock closed at 1.09 per San Francisco, Calif.-based Golden Gate Capital has aboutg $9 billion in assets under management. based in Alpharetta, Ga., is a softwar company with about 9,000 employees and $2.2 billionn in revenue. Minneapolis-based SoftBrands (AMEX: SBN) sells software to the hospitalityt industry, as well as to small and mid-sizef manufacturers under the brand. Its productsw handle tasks such as making reservationzs to settingroom rates.
SoftBrands CEO Randgy Tofteland said in a pressa statement that the deal will allow shareholdersto “realize significant value from theirf investment.” He also said the company would benefitg from an “alliance” with A spokeswoman for Infor said SoftBrands will continuee to have a presence in though it has yet to be determined how many employees will remaijn here. SoftBrands’ board has already approve the sale, which is expected to close in between 60 and90
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