Lawson Software Sale Is a Done Deal
The sale of one of Minnesota's largest public companies has been completed.
GGC Software Holdings, Inc., an affiliate of Golden Gate Capital and Infor, on Wednesday announced that it closed on its acquisition of St. Paul-based Lawson Software.
Lawson's shareholders will receive $11.25 per share in cash, per the terms of the deal that was announced in April. The deal is valued at about $2 billion. The company's shareholders approved the sale last week.
Lawson, a provider of business application software, maintenance, and consulting, has been combined with Infor affiliate SoftBrands, Inc. Minneapolis-based SoftBrands was acquired by Infor in 2009.
Lawson spokesman Terry Blake told Twin Cities Business in April that the company wouldn't alter its business until the acquisition closed, after which point “integration planning will happen in full force.”
Lawson spokesman Joe Thornton on Wednesday wrote in an e-mail to Twin Cities Business that Lawson employs roughly 800 workers in St. Paul, although the company declined to comment on how the acquisition will affect those employees.
“Lawson's presence in St. Paul will remain at 380 Saint Peter Street,” Thornton wrote.
According to Infor, the merger will allow the companies to integrate their existing technologies and partner on product offerings through cross-selling, marketing, and distribution deals.
Lawson was one of Minnesota's 40-largest public companies based on its revenue, which totaled $124 million in its 2010 fiscal year. Shares of the company's common stock were delisted from the NASDAQ market on Tuesday.