Financial Daily from THE HINDU group of publications
Wednesday, May 17, 2006
Financial Daily from THE HINDU group of publications Wednesday, May 17, 2006 |
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Info-Tech
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Mergers & Acquisitions Infor to acquire SSA Global Our Bureau
Hyderabad , May 16 SSA Global, a Nasdaq- listed company, with a development centre in Hyderabad, has entered into an agreement where Infor, a global enterprise software provider, 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 deal is likely to close by third quarter of calendar 2006. This is subject to regulatory and SSA Global shareholders approvals. The Chairman of SSA Global, Mr Mike Greenough, in a statement said, "This transaction brings value to all of our key stakeholders, investors, customers and employees." According to Infor's Chairman and CEO, Mr Jim Schaper, "With this acquisition, Infor will become the third largest enterprise software provider in the industry with approximately $1.6 billion in revenue." The deal is valued at about $1.4 billion. The agreement to acquire SSA Global was signed by Magellan Holdings, Inc., a wholly owned subsidiary of Infor Global Solutions AG. Infor is a portfolio company of Golden Gate Capital and Summit Partners. With 3,100 employees in 50 global offices, Infor provides enterprise solutions to over 24,700 customers across 100 countries.
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