Infor,investment firm had been in negotiations with Lawson since March
Lawson Software Inc. has signed a definitive agreement to be acquired by GGC Software Holdings, Inc., an affiliate of Golden Gate Capital and software provider Infor, in a transaction valued at approximately $2 billion. Under the terms of the merger agreement, stockholders of Lawson will receive $11.25 per share in cash.
The announcement marks the culmination of Lawson Software’s evaluation of strategic alternatives and review and negotiation of a proposal from Golden Gate and Infor that began prior to, and was later publicly confirmed in a press release on March 11, 2011. During its evaluation, Lawson conducted a comprehensive market assessment and contacted other potential acquirers including competing global providers of enterprise applications and financial buyers.
"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."
The deal is expected to close in the third quarter
Showing posts with label distribution software. Show all posts
Showing posts with label distribution software. Show all posts
Wednesday, April 27, 2011
Monday, April 4, 2011
Apax Partners acquires Activant and Epicor Solutions
The combined company will have 30,000 customers; $825 million in revenue
Activant Solutions Inc., a provider of ERP and point-of-sale software serving mid-market retailers and distributors, today announced that it has entered into a definitive agreement to be acquired by Apax Partners, a private equity firm with a history of technology investment. Activant is currently owned by investment funds affiliated with Hellman & Friedman LLC, Thoma Bravo, LLC and JMI Equity, and by management.
Apax also announced today that it is has entered into a definitive agreement under which funds advised by Apax will acquire Epicor Software Corporation (NASDAQ: EPIC), a provider of enterprise business software solutions for the mid-market and the divisions of global 1000 companies. Apax intends to combine Activant with Epicor to create one of the largest global providers of enterprise applications focused on the manufacturing, distribution, services and retail sectors. Following completion of the merger, the combined company will be called Epicor Software Corporation.
"This transaction is extremely positive for Activant’s customers, employees and investors alike," said Pervez Qureshi, Activant president and CEO. “Our market leadership and expertise in distribution perfectly complements Epicor’s expertise in the manufacturing and services sectors. Together, Activant and Epicor’s retail business solutions can now cover the full spectrum of retailing − from small hardlines retailers, to national specialty softgoods and apparel chains, to global general merchandise department stores. Additionally, with Epicor’s worldwide infrastructure, we will have the opportunity to service and support Activant products internationally, which is very important as our customers compete in an increasingly global business environment.”
“With Apax, we are partnering with one of the premier investment firms in the world and one that is very much focused on growth and delivering value to the customers of its portfolio companies,” continued Qureshi. “The combined company will have over 30,000 customers, $825 million in annual revenues, and the most visionary business application software and vertical industry expertise in the market today. Apax is committed to growing the businesses in which they invest and has an excellent track record of working as a strategic partner with management to build high-growth companies.”
Under the terms of the agreement, all of Activant’s outstanding shares and stock options will be acquired for cash. Upon completion of the transaction all of
Activant’s outstanding 9-1/2% Senior Subordinated Notes will be redeemed and Activant’s senior secured indebtedness will be repaid. Apax has received debt commitment letters from Bank of America, N.A. and Royal Bank of Canada to provide the debt necessary to close the acquisitions. The acquisition of Activant is conditioned upon the concurrent closing of Apax’s acquisition of Epicor, the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. Activant expects that the acquisitions will close by the end of the second calendar quarter of this year.
"We are extremely excited to be bringing together two of the premier enterprise software companies to create a global market leader,” said Jason Wright, a partner at Apax Partners. “Activant and Epicor are both true innovators and extremely well positioned in the enterprise applications software space. Both Epicor and Activant customers will benefit from the combined entity’s increased scale, solutions portfolio and expanded service offerings. Epicor will gain access to significant additional domain expertise, particularly in hardlines retail, automotive and wholesale distribution, while Activant will benefit from an accelerated roadmap to international operations and additional supply chain and manufacturing functionality.”
“In addition to the immediate product and service portfolio enhancements,” Wright continued, “both companies’ customers will further benefit from the strong financial backing of Apax Partners and our commitment to building the new Epicor into the global leader for enterprise business applications in manufacturing, distribution, retail and services. We look forward to partnering with the management team and to providing the resources and support that can accelerate the growth and expansion of the business and the value it creates globally.”
Activant Solutions Inc., a provider of ERP and point-of-sale software serving mid-market retailers and distributors, today announced that it has entered into a definitive agreement to be acquired by Apax Partners, a private equity firm with a history of technology investment. Activant is currently owned by investment funds affiliated with Hellman & Friedman LLC, Thoma Bravo, LLC and JMI Equity, and by management.
Apax also announced today that it is has entered into a definitive agreement under which funds advised by Apax will acquire Epicor Software Corporation (NASDAQ: EPIC), a provider of enterprise business software solutions for the mid-market and the divisions of global 1000 companies. Apax intends to combine Activant with Epicor to create one of the largest global providers of enterprise applications focused on the manufacturing, distribution, services and retail sectors. Following completion of the merger, the combined company will be called Epicor Software Corporation.
"This transaction is extremely positive for Activant’s customers, employees and investors alike," said Pervez Qureshi, Activant president and CEO. “Our market leadership and expertise in distribution perfectly complements Epicor’s expertise in the manufacturing and services sectors. Together, Activant and Epicor’s retail business solutions can now cover the full spectrum of retailing − from small hardlines retailers, to national specialty softgoods and apparel chains, to global general merchandise department stores. Additionally, with Epicor’s worldwide infrastructure, we will have the opportunity to service and support Activant products internationally, which is very important as our customers compete in an increasingly global business environment.”
“With Apax, we are partnering with one of the premier investment firms in the world and one that is very much focused on growth and delivering value to the customers of its portfolio companies,” continued Qureshi. “The combined company will have over 30,000 customers, $825 million in annual revenues, and the most visionary business application software and vertical industry expertise in the market today. Apax is committed to growing the businesses in which they invest and has an excellent track record of working as a strategic partner with management to build high-growth companies.”
Under the terms of the agreement, all of Activant’s outstanding shares and stock options will be acquired for cash. Upon completion of the transaction all of
Activant’s outstanding 9-1/2% Senior Subordinated Notes will be redeemed and Activant’s senior secured indebtedness will be repaid. Apax has received debt commitment letters from Bank of America, N.A. and Royal Bank of Canada to provide the debt necessary to close the acquisitions. The acquisition of Activant is conditioned upon the concurrent closing of Apax’s acquisition of Epicor, the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. Activant expects that the acquisitions will close by the end of the second calendar quarter of this year.
"We are extremely excited to be bringing together two of the premier enterprise software companies to create a global market leader,” said Jason Wright, a partner at Apax Partners. “Activant and Epicor are both true innovators and extremely well positioned in the enterprise applications software space. Both Epicor and Activant customers will benefit from the combined entity’s increased scale, solutions portfolio and expanded service offerings. Epicor will gain access to significant additional domain expertise, particularly in hardlines retail, automotive and wholesale distribution, while Activant will benefit from an accelerated roadmap to international operations and additional supply chain and manufacturing functionality.”
“In addition to the immediate product and service portfolio enhancements,” Wright continued, “both companies’ customers will further benefit from the strong financial backing of Apax Partners and our commitment to building the new Epicor into the global leader for enterprise business applications in manufacturing, distribution, retail and services. We look forward to partnering with the management team and to providing the resources and support that can accelerate the growth and expansion of the business and the value it creates globally.”
Tuesday, March 29, 2011
Oracle may bid for Lawson Software
Report says other bidders may also emerge
A news report by www.bloomberg.com today said that the Oracle Corp. may make a bid for Lawson Software, outbidding Infor and Golden Gate Capital’s offer of $1.8 billion.
Lawson Software, which counts billionaire investor Carl Icahn as one of its biggest shareholders, has risen 4.4 percent above the offer of $11.25 a share from Infor and Golden Gate Capital disclosed March 11, according to data compiled by Bloomberg.
Oracle, the second-biggest seller of business applications software, may buy Lawson, whose clients include Safeway Inc. and Volvo AB, Soleil Securities Corp.
Oracle stands to profit from Lawson Software’s medical records and supply-chain management businesses, which analysts estimate will help push the St. Paul, Minnesota-based company’s earnings to a record this year, Bloomberg said. A bidding contest would also increase Icahn’s windfall from his 10.9 percent stake in Lawson Software, which currently represents a 51 percent gain, data compiled by Bloomberg show.
A news report by www.bloomberg.com today said that the Oracle Corp. may make a bid for Lawson Software, outbidding Infor and Golden Gate Capital’s offer of $1.8 billion.
Lawson Software, which counts billionaire investor Carl Icahn as one of its biggest shareholders, has risen 4.4 percent above the offer of $11.25 a share from Infor and Golden Gate Capital disclosed March 11, according to data compiled by Bloomberg.
Oracle, the second-biggest seller of business applications software, may buy Lawson, whose clients include Safeway Inc. and Volvo AB, Soleil Securities Corp.
Oracle stands to profit from Lawson Software’s medical records and supply-chain management businesses, which analysts estimate will help push the St. Paul, Minnesota-based company’s earnings to a record this year, Bloomberg said. A bidding contest would also increase Icahn’s windfall from his 10.9 percent stake in Lawson Software, which currently represents a 51 percent gain, data compiled by Bloomberg show.
Monday, March 14, 2011
Lawson Software receives buyout offer
Software provider Infor and Golden Gate Capital reportedly offering #1.8 billion in unsolicited offer
Lawson Software has received an unsolicited $1.8 billion proposal to be bought by Infor and Golden Gate Capital, the Minneapols-St. Paul Business Journal is reporting.
The offer was for $11.25 per share in cash, which translates into about $1.8 billion.
St. Paul-based Lawson said it's discussing the unsolicited proposal with the potential buyers, the news site said.
If a deal is completed, Lawson would be the second software company acquired by Infor in recent years. Infor bought Minneapolis-based SoftBrands in 2009.
Lawson Software has received an unsolicited $1.8 billion proposal to be bought by Infor and Golden Gate Capital, the Minneapols-St. Paul Business Journal is reporting.
The offer was for $11.25 per share in cash, which translates into about $1.8 billion.
St. Paul-based Lawson said it's discussing the unsolicited proposal with the potential buyers, the news site said.
If a deal is completed, Lawson would be the second software company acquired by Infor in recent years. Infor bought Minneapolis-based SoftBrands in 2009.
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