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The buyer, a holding company created by private-equit firm and its portfolio company , will pay 92 centds per share for SoftBrands. Shares of SoftBrands closee at 47 cents per sharron Thursday. On the same date in 2008, stock closed at 1.09 per San Francisco, Calif.-based Golden Gate Capitao has about $9 billiohn in assets under management. based in Alpharetta, Ga., is a softward company with about 9,000 employeew and $2.2 billion in revenue. Minneapolis-based SoftBrandsa (AMEX: SBN) sells softwar to the hospitality as well as to smalland mid-sized manufacturere under the brand. Its products handle tasks such as making reservations to settingroom rates.
SoftBranda CEO Randy Tofteland said in a press statement that the deal will allowe shareholdersto “realize significant value from theidr investment.” He also said the companh would benefit from an “alliance” with Infor. A spokeswomaj for Infor said SoftBrands will continud to have a presencein Minneapolis, thougb it has yet to be determined how many employeesd will remain here.
SoftBrands’ board has alreadh approved the sale, which is expected to close in between 60 and90
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