Original URL: http://www.theregister.co.uk/2012/11/01/red_prairie_buys_jda_software/
JDA Software finds a RedPrairie home companion
$1.9bn merger agreed
Posted in Financial News, 1st November 2012 14:02 GMT
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JDA Software is selling itself to RedPrairie, a privately equity-backed enterprise software firm, for $1.9bn in cash.
The $45 a share deal is 33 per cent higher than JDA's closing price on October 26, the day before Reuters told the world that the company was exploring a sale [1].
JDA and RedPrairie specialise in different areas of the supply chain software market, and the combined entity claims annual revenues of more than $1 billion.
JDA revenues for the nine months ended September 2012 were $495.5m, so it is much bigger than its prospective owner.
JDA's board has voted for the merger and considering the premium on offer it is safe to assume that this is a done deal. JDA boss Hamish Brewer will lead the combined company as CEO.
RedPrairie is controlled by New Mountain Capital, a US private equity firm. ®