US: Lawson Software in $2bn buyout deal
26 April 2011 | News | Source: just-style.com
Lawson Software Inc is to be acquired by GGC Software Holdings, an affiliate of private equity firm Golden Gate Capital and software company Infor, in a deal worth $2bn.
Lawson, whose business management systems include its core ERP system and Product Lifecycle Management (PLM) tool aimed at fashion companies, brand owners, manufacturers and private brand retailers, said today (26 April) that the agreement was "unanimously approved" by its board of directors.
"We are pleased to have entered into a transaction that will offer Lawson stockholders an attractive valuation," said Harry Debes, Lawson's president and chief executive officer.
"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."
Infor CEO Charles Phillips added that Lawson's software solutions "will extend our existing portfolio, particularly in areas such as healthcare, public sector, manufacturing and human capital management."