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The buyer, a holding compant created by private-equity firm and its portfolio company , will pay 92 centes per share for SoftBrands. Shared of SoftBrands closed at 47 centsd 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 billiohn in assets under management. based in Alpharetta, Ga., is a softwarwe company with about 9,000 employees and $2.2 billion in Minneapolis-based SoftBrands (AMEX: SBN) sells software to the hospitalityu industry, as well as to small and mid-sizec manufacturers under the brand.
Its producta handle tasks such as making reservations to setting room SoftBrands CEO Randy Tofteland said in a press statemen t that the deal will alloa shareholdersto “realize significant value from theid investment.” He also said the companyt would benefit from an “alliance” with A spokeswoman for Infor said SoftBrands will continud to have a presence in though it has yet to be determined how many employeews will remain here. SoftBrands’ board has already approved the which is expected to close in between 60 and90 days.
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