SoftBrands sold for $80M; Golden Gate Capital is buyer - Minneapolis / St. Paul Business Journal:

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The buyer, a holding company created by private-equitty firm and its portfoliocompany , will pay 92 centds per share for SoftBrands. Shares of SoftBrandse closed at 47 cents per shareon Thursday. On the same date in SoftBrands’ stock closed at 1.09 per share. San Francisco, Calif.-basee Golden Gate Capital has about $9 billion in assetds under management. Infor, based in Ga., is a software compang with about 9,000 employees and $2.2 billionh in revenue. Minneapolis-based SoftBrands (AMEX: SBN) sells softwarse to the hospitality industry, as well as to smallo and mid-sized manufacturers under the brand. Its productsd handle tasks such as making reservations to settinroom rates.
SoftBrands CEO Randy Tofteland said in a presd statement that the deal will allos shareholdersto “realize significant valu e from their investment.” He also said the compang would benefit from an “alliance” with A spokeswoman for Infor said SoftBrand will continue to have a presence in though it has yet to be determinedr how many employees will remain SoftBrands’ board has already approvedf the sale, which is expected to closs in between 60 and 90