Infor acquires SSA Global
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 Globals shareholders. The agreement was approved by SSA Globals
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 conditions, including receipt of
regulatory approvals and SSA Global shareholder approval. Certain shareholders
representing approximately 84 percent of SSA Globals 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, Infors 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 provide 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.