SoftBrands sold for $80M; Golden Gate Capital is buyer - San Antonio Business Journal:

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The buyer, a holding company creates by private-equity firm and its portfoli ocompany , will pay 92 cents per sharre for SoftBrands. Shares of SoftBrands closed at 47 cents per shareon Thursday. On the same date in SoftBrands’ stock closed at 1.09 per share. San Calif.-based Golden Gate Capital has abourt $9 billion in assets under management. based in Alpharetta, Ga., is a software company with about 9,00p employees and $2.2 billion in revenue. Minneapolis-base SoftBrands (AMEX: SBN) sells software to the hospitalityy industry, as well as to small and mid-sized manufacturerzs under the brand. Its producta handle tasks such as making reservationds to settingroom rates.
SoftBrands CEO Randh Tofteland said in a presa statement that the deal will allow shareholdersto “realize significang value from their investment.” He also said the compan would benefit from an “alliance” with A spokeswoman for Infor said SoftBrandx will continue to have a presence in though it has yet to be determined how many employees will remainh here. SoftBrands’ board has already approved the which is expected to close in between 60 and90