Veteran ERP vendor Lawson software is being swallowed by acquisitive VC house Golden Gate Capital, the firms announced this morning.
Lawson will be lined up with Golden Gate's GGC Software affiliate and Infor, another software firm in its portfolio.
"Infor and Lawson will create a rich, integrated enterprise application suite," said Charles Phillips, CEO of Infor. "After the transaction closes, we plan to integrate many of the applications as soon after closing as possible, facilitated by a standards-based approach and the fact that both companies' applications are already service-enabled."
The CEO is of course the same Chuck Phillips who used to be president at Oracle.
The statement accompanying the buy emphasised Infor's supply chain, product lifecycle, workforce, and asset management products, with Lawson lauded for its best-in-class enterprise financials and human resources products.
Lawson shareholders will get $11.25 a share, a discount of 7.3 per cent down on Monday's closing price, but still a 14 per cent markup on the price of shares before rumours of the deal began circulating at the beginning of March. The firm first confirmed that it had received an approach on 11 March.
Lawson said it had spoken to other parties, but had concluded that the GGC offer was in the best interests of shareholders – or at least of those who had bought their stock before the ramp-up of its share price. ®