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SoftBrands to Be Acquired By Affiliate of Golden Gate Capital and Infor

SoftBrands, Inc., a provider of software solutions for businesses in the manufacturing and hospitality industries worldwide, today announced that it has entered into a definitive agreement to be acquired by an affiliate of Golden Gate Capital and Infor for $0.92 in cash per common share for a total transaction value of approximately $80 million (including amounts paid in respect of SoftBrands debt and preferred equity).SoftBrands' current lender, Wells Fargo Foothill, part of Wells Fargo & Company, has agreed to provide financing for the transaction, which is expected to close in 60 to 90 days. The offer price represents an approximate 100% premium over the company's closing price on the NYSE Amex on June 11, 2009. SoftBrands common stockholders will retain the rights going forward to 10% of the AremisSoft Liquidating Trust's net cash proceeds, if any, received and distributed by the Trust.

The proposed transaction is subject to customary conditions to closing, including approval of SoftBrands stockholders. The Board of Directors of SoftBrands has unanimously approved the definitive agreement and agreed to recommend that SoftBrands stockholders approve the transaction.

Piper Jaffray & Co. is acting as the exclusive financial advisor to SoftBrands on the proposed transaction, and Dorsey & Whitney LLP is providing legal counsel to SoftBrands on the proposed transaction. Kirkland & Ellis LLP is providing legal counsel to Golden Gate Capital and Infor on the proposed transaction.

SoftBrands will file a Current Report on Form 8-K with the Securities and Exchange Commission (SEC) regarding the proposed transaction. Additional information, including a copy of this press release, and the agreement and plan of merger will be available in the Current Report.

SoftBrands will host a conference call and webcast today at 11:00am Eastern Time to discuss the agreement. Interested parties may listen to the call by dialing 866-700-0161 or international 617-213-8832 (passcode: 77218589). A live webcast will also be available at SoftBrands' website at A replay will be available approximately one hour after the conference call concludes and will remain available through June 19, 2009. The replay number is 888-286-8010 and international 617-801-6888 (passcode: 91176867).
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