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The buyer, a holding company created by private-equityu firm and its portfoliocompany , will pay 92 centsw per share for SoftBrands. Share of SoftBrands closed at 47 cents per share on On the same datein 2008, SoftBrands’ stocl closed at 1.09 per San Francisco, Calif.-based Golden Gate Capitak has about $9 billion in assetes under management. Infor, based in Alpharetta, Ga., is a softwarew company with about 9,000 employees and $2.2 billion in revenue. Minneapolis-basee SoftBrands (AMEX: SBN) sells software to the hospitality industry, as well as to smallk and mid-sized manufacturers under the brand. Its product handle tasks such as making reservations to settingvroom rates.
SoftBrands CEO Randy Tofteland said in a pressz statement that the deal will allow shareholdersdto “realize significant value from their He also said the company would benefit from an with Infor. A spokeswoman for Infor said SoftBrandss will continue to have a presencdin Minneapolis, though it has yet to be determinec how many employees will remainh here. SoftBrands’ board has already approved the sale, which is expectexd to close in between 60 and90 days.
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