From Russia with CAD
 
News

All news     
15 May 2006

SSA Global to be Acquired by Infor: Combined Company Creates Third Largest Global Enterprise Software Provider

CHICAGO – May 15, 2006 – SSA Global™ (NASDAQ: SSAG), a leading global provider of extended enterprise solutions and services, today announced the signing of a definitive agreement under which Infor, one of the largest global enterprise software providers focused on developing solutions for the manufacturing and distribution industries, will acquire SSA Global.

Under the terms of the agreement, Infor has agreed to pay $19.50 per share in cash to SSA Global’s shareholders. The agreement was approved by SSA Global’s Special Committee of independent directors, as well as the Board of Directors. The parties anticipate closing the transaction in the third calendar quarter of 2006. The closing is subject to certain customary conditions, including receipt of regulatory approvals and SSA Global shareholder approval. Certain shareholders representing approximately 84% of SSA Global’s outstanding shares have entered into voting agreements to support the merger.

"With this acquisition, Infor will become the third largest enterprise software provider in the industry with approximately $1.6 billion in revenue," said Jim Schaper, Infor’s chairman and CEO. "Infor has become a significant force in the industry by assembling and innovating market-specific, best-in-class enterprise software solutions, which provides customers with a flexible choice in the market."

"In a rapidly consolidating marketplace we have seen that size and scale matter," said Mike Greenough, chairman, president and CEO of SSA Global. "This transaction brings value to all of our key stakeholders … our investors, our customers and our employees."



Permanent link :: http://isicad.net/news.php?news=10235


CAD development
23rd of June, 2024

News

All news


Articles

All articles

© 2004-2024 LEDAS Ltd. All rights reserved.