Infor to Acquire Workbrain
Workbrain Corporation reaches a definitive agreement with Infor Global Solutions European Finance, S.A.R.L. (Infor) under which Infor will acquire all of Workbrain's outstanding common shares at a price of $12.50 per share in cash pursuant to a statutory plan of arrangement. The transaction values Workbrain, on a fully diluted basis, at approximately $227 million dollars. The transaction has been unanimously approved by Workbrain's Board of Directors, which recommends that shareholders vote in favor of the transaction. "In just over seven years, Workbrain has built the leading workforce management software company based on innovation and attention to the customer. Joining Infor will accelerate our current momentum by providing us access to Infor's 70,000 customers and extensive global distribution network. We believe that all of our stakeholders will benefit from this combination," says David Ossip, CEO of Workbrain.