SoftBrands acquired by equity firm, Infor for $0.92 per share

By Lisa Kerner

Charlotte, N.C., Aug. 13 - SoftBrands, Inc. has been acquired by an affiliate of Golden Gate Capital and Infor, it was announced on Thursday.

SoftBrands shareholders approved the transaction, which gives them $0.92 per common share, at a special meeting on Wednesday.

Prior to the closing, SoftBrands assigned its 10% interest in the net proceeds of the AremisSoft Liquidating Trust to warrantholder Capital Resource Partners IV, LP and the SoftBrands stockholders.

SoftBrands shares will be de-listed from the NYSE Amex market.

As previously reported, SoftBrands agreed in June to be acquired in a deal valued at approximately $80 million including debt and preferred equity.

Minneapolis-based SoftBrands provides software to the manufacturing and hospitality industries.

Golden Gate Capital is a San Francisco-based private equity investment firm.

Infor is a private enterprise software company based in Alpharetta, Ga.

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