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Infor Global Solutions has agreed to pay $347 million to acquire MAPICS, a manufacturing software company with about 4,500 customers. Infor focuses exclusively on delivering enterprise resource planning and supply chain solutions that are designed specifically for the manufacturing and distribution industries. By adding MAPICS' additional scale and reach, Infor plans to expand its manufacturing solutions and increase its ability to compete globally. The combined company will have more than 17,500 customers in 70 countries.
Infor is building vertical market leadership by assembling proven, best-of-breed solutions and deep industry knowledge," said Jim Schaper, Infor's chairman and CEO. "MAPICS is a respected enterprise software provider that has been serving the manufacturing industry for over two decades. The combined company has the scale and resources to continue to support our extensive customer base while investing in enhancements and long-term product innovation. Both current and future customers will benefit from our exclusive focus on manufacturing and distribution and our world-class team of professionals with deep vertical expertise."
MAPICS has approximately 4,500 customers and a team of dedicated employees who will expand Infor's expertise in the manufacturing sector. MAPICS' strong affiliate and partner network will further enhance Infor's ability to meet the needs of global manufacturers and MAPICS' proven products will allow Infor to offer an expanded suite of solutions. Infor's financial backing, global reach and additional product solutions will provide MAPICS' customers with a path for continuous improvement and long-term growth.
"With the industry consolidation currently taking place, it was imperative that MAPICS combine to create a larger company to help ensure the continued success of our customers,"" said Dick Cook, MAPICS' president and CEO. ""While our initial strategy was to grow through acquisition, the opportunity to be part of a much larger company while rewarding our shareholders presented an attractive alternative."
Infor International Limited, a wholly owned subsidiary within the Infor Global Solutions group, has signed a definitive agreement to acquire MAPICS, Inc, a publicly traded manufacturing applications provider headquartered inAlpharetta, Georgia. Terms of the acquisition include the purchase of all MAPICS capital stock for $12.75 cash per share. MAPICS currently has approximately 27.2 million shares outstanding on a fully diluted basis. The acquisition will be financed through equity capital to be provided by Golden Gate Capital and Summit Partners, Infor's existing equity sponsors. Infor's senior bank debt and subordinated debt will be refinanced by a syndicate of banks led by Lehman Brothers with Wells Fargo Foothill acting as syndication agent. SunTrust Robinson Humphrey is acting as the exclusive advisor to MAPICS in this transaction. Lehman Brothers Inc. and Wachovia Securities are acting as advisors to Infor.