TMCnews Featured Article
CRM Solutions: Lawson Software Sold to Infor, Golden Gate Capital
By Juliana Kenny, TMCnet Web Editor
In a $2 billion deal, Golden Gate Capital and Infor have purchased Lawson Software, a business software manufacturer in Minnesota. Approving the offer of $11.25 per share, Lawson’s board unanimously approved the buyout.
Having made an offer for Lawson in March, Infor and Golden Gate were the highest bidders for Lawson after the company contacted other potential buyers. Offering 13.9 percent in early March, Golden Gate and Infor were finally selected as buyers.
Investors have speculated that Lawson would find a better offer than that of Golden Gate and Infor, but their predictions were off the mark. Although Lawson’s stock has traded higher over the last month, the shares closed at $9.88 on March 7. Yet, this past Tuesday, shares of Lawson dropped 6.8 percent to $11.30 in pre-market trading.
Infor and Lawson will serve about 75,000 clients across healthcare, distribution, hospitality, and public sector industries according to GGC Software Holdings, Golden Gate’s affiliate. Infor has about 70,000 customers across the world in 125 nations.
Juliana Kenny graduated from the University of Connecticut with a double degree in English and French. After managing a small company for two years, she joined TMC (News - Alert) as a Web Editor for TMCnet. Juliana currently focuses on the call center and CRM industries, but she also writes about cloud telephony and network gear including softswitches.
Edited by Juliana Kenny