SoftBrands sold for $80M; Golden Gate Capital is buyer - Business Courier of Cincinnati:

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The buyer, a holding companyg created by private-equity firm and its portfolip company , will pay 92 cents per share for SoftBrands. Shares of SoftBrands closed at 47 centd 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 billion in assets underd management. Infor, based in Alpharetta, Ga., is a software compangy with about 9,000 employees and $2.2 billionb in revenue.
Minneapolis-based SoftBrands (AMEX: SBN) sellws software to the hospitality industry, as well as to small and mid-sized manufacturers under the Its products handle tasks such as makint reservations to setting room SoftBrands CEO Randy Toftelandc said in a pressz statement that the deal will allo w shareholdersto “realize significanyt value from their investment.” He also said the company woulf benefit from an “alliance” with Infor. A spokeswomanm for Infor said SoftBrands will continue to have a presence in though it has yet to be determined how many employees willremainb here.
SoftBrands’ board has already approvesd the sale, which is expectefd to close in betwee 60 and90 days.