Lawson Software on Tuesday made it official. It will be acquired by Infor and Golden Gate Capital in a deal valued at $2 billion, or $11.25 a share in cash.
The acquisition was approved by Lawson's board. With the announcement, which appeared to have leaked out on Monday, Infor will get to integrate Lawson's financial and HR software and target more verticals.
In the end, Lawson fetched 2.5 times revenue and 23 times non-GAAP earnings. Lawson shareholders got a 14 percent premium from its March 7 stock price.
Infor CEO Charles Phillips said that Lawson "is a natural strategic partner" that will extend its portfolio and deliver "comprehensive ERP suites."
The deal is expected to close in the third quarter.
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