Mergers and Acquistions News
Categories: Software
April 27th 2011, 16:40PM
A deal worth around $2 billion (£1.2 billion) has been agreed between Lawson Software and Golden Gate and Infor.
The company, which provides enterprise resource planning software and solutions, agreed to sell its shares at a price of $11.25, following an unsolicited offer from San Francisco-based Golden Gate, and software company Infor in March. The deal was announced on Tuesday, meaning the board deliberated for over a month.
It follows a period of Lawson being 'shopped around' to other companies, and a robust market analysis by board members at the Minnesota-based software company.
The deal, which was unanimously approved by the board, is expected to be completed in the third quarter of 2011.
Lawson president Harry Debes said: "We are pleased to have entered into a transaction that will offer Lawson stockholders an attractive valuation. After a thorough examination of the strategic alternatives available to the company as well as extensive discussions with Golden Gate and Infor, Lawson’s board unanimously concluded that this transaction is in the best interests of the company and our stockholders."
Golden Gate and Infor will acquire partner firm Enwisen along with Lawson, as the company acquired the former firm in 2008.
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