Golden Gate Capital and Infor Global acquire SoftBrands

Enterprise software provider Infor Global Solutions and an affiliate of private equity firm Golden Gate Capital have acquired all of the outstanding common stock of SoftBrands, Inc., a provider of software solutions to the manufacturing and hospitality industries. All the parties involved in the transaction are based in the US.

Update on August 12, 2009:

The stockholders of SoftBrands have approved the company's proposed acquisition by Infor Global Solutions and an affiliate of Golden Gate Capital.

Announcement (June 12, 2009):

Infor Global and an affiliate of Golden Gate Capital have entered into a definitive agreement to acquire all of the outstanding common stock of SoftBrands at a price of $0.92 per share in cash. The transaction is valued at approximately $80 million.

The offer price represents a premium of 100% to SoftBrands's closing share price on June 11, 2009. Wells Fargo Foothill, Inc. has agreed to provide financing for the transaction. The transaction is expected to close in 60 to 90 days.

Piper Jaffray & Co. is acting as financial advisor and Dorsey & Whitney LLP as legal advisor to SoftBrands. Kirkland & Ellis LLP is acting as legal advisor to Golden Gate Capital and Infor Global.

Deal Value (US$ Million) 80
Deal Type                Private Equity
Sub-Category             Going Private
Deal Status              Completed: 2009-08-13

Deal Participants

Target (Company)   SoftBrands, Inc.
Acquirer (Company) Infor Global Solutions

Bid Premium ($ per share) 100

Related terms: acquisition, advisor, legal, Private Equity, software