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The buyer, a holdingy company created by private-equity firm and its portfolio company , will pay 92 cents per share for SoftBrands. Shares of SoftBrands closeds at 47 cents per shareon Thursday. On the same date in SoftBrands’ stock closed at 1.09 per San Francisco, Calif.-based Golden Gate Capital has aboutf $9 billion in assets under management. based in Alpharetta, Ga., is a software companyt with about 9,000 employees and $2.2 billiob in revenue. Minneapolis-based SoftBrands (AMEX: SBN) sellw software to the hospitality as well as to smalland mid-sizerd manufacturers under the brand. Its productx handle tasks such as making reservationsd to settingroom rates.
SoftBrandsw CEO Randy Tofteland said in a press statementt that the deal will allow shareholderato “realize significant valuew from their investment.” He also said the companyg would benefit from an “alliance” with A spokeswoman for Infor said SoftBrandzs will continue to have a presenced in Minneapolis, though it has yet to be determines how many employees will remain here.
SoftBrands’ board has alreadyu approved the sale, which is expected to closwe in between 60 and90
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