Lawson Software receives $1.8 billion takeover offer

Lawson Software, a US-based provider of business software that has activist investor Carl Icahn among its largest shareholders, yesterday said that it has received an unsolicited $1.8 billion cash buyout offer from Infor Global Solutions and Golden Gate Capital Partners.

Following receipt of the unsolicited offer, Minnesota-based Lawson said that its board has retained Barclays Capital as its financial advisor to assist in evaluating the proposal, as well as other possible strategic alternatives.

''Lawson's board has not made any determination to sell the company or engage in any other strategic transaction, and there can be no assurance that the unsolicited proposal or the evaluation of strategic alternatives will result in any sale or other transaction, whether with Infor and Golden Gate or any other party,'' said Lawson in a statement.

Headquartered in Alpharetta, Georgia, Infor is a privately held company with private equity firm Golden Gate Capital being its largest shareholder.

Infor specialises in business software for specific industries including healthcare, services, public sector, equipment service management and rental, manufacturing and distribution and consumer products.

It has approximately 8,000 employees, offices in 36 countries, over 70,000 customers worldwide and reported $736.4 million in revenues for 2010. It has a market capitalisation of $1.89 billion as on 11 March 2011.