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

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The buyer, a holding company createdx by private-equity firm and its portfolio companuy , will pay 92 cents per share for SoftBrands. Shares of SoftBrands closed at 47 cente 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 billiojn in assets under Infor, based in Alpharetta, Ga., is a software compant with about 9,000 employees and $2.2 billion in Minneapolis-based SoftBrands (AMEX: SBN) sells software to the hospitality industry, as well as to smal l and mid-sized manufacturers under the brand. Its productzs handle tasks such as making reservations to settinhroom rates.
SoftBrands CEO Randy Tofteland said in a presx statement that the deal will alloa shareholdersto “realize significant value from theirt investment.” He also said the company would benefit from an with Infor. A spokeswoman for Infod said SoftBrands will continue to have a presencedin Minneapolis, though it has yet to be determined how many employeees will remain here. SoftBrands’ board has already approved the which is expected to close in between 60 and90