Business
Software maker Baan moves to new owner
Software maker Baan has become a wholly owned subsidiary of Chicago-based SSA Global Technologies, the Dutch company said Monday. Baan's former owner, London-based Invensys, announced its $135 million sale of the money-losing software unit to SSA's owners last month.
Software maker Baan has become a wholly owned subsidiary of Chicago-based SSA Global Technologies, the Dutch company said Monday. Baan's former owner, London-based Invensys, announced its $135 million sale of the money-losing software unit to SSA's owners last month. Together, SSA and Baan, which both specialize in business applications for manufacturers, have more than 16,500 customers and nearly $610 million in license revenue, SSA said. The company has selected its executive vice president, Graeme Cooksley, to oversee the Baan unit, which it plans to restructure for profitability.
SSA and Baan compete with SAP, J.D. Edwards, Oracle and PeopleSoft in the market for business automation software. A prolonged contraction of that market has led to a series of recent acquisitions, with Baan merging with SSA and PeopleSoft merging with J.D. Edwards. Oracle is looking to consolidate the market further via an unfriendly bid for PeopleSoft.