Product category:
Manufacturing dealerships, agencies and acquisitions
News Release from: Infor
Edited by the Manufacturingtalk Editorial
Team on 10 January 2006
Infor agrees to acquire Datastream.
Infor, leading providers of enterprise software solutions, has signed of a definitive agreement forit to acquire Datastream - a provider of asset performance management software.
Infor, leading providers of enterprise software solutions, has announced the signing of a definitive agreement for Infor to acquire Datastream Under the terms of the agreement, Infor has agreed to pay $10.26 per share in cash to Datastream stockholders
This article was originally published on Manufacturingtalk on 2 Apr 2008 at 8.00am (UK)
Related stories
Reduce energy costs, manage emissions
Software brings energy efficiency capabilities to enterprise asset management, allowing companies to integrate energy consumption and emissions management into assets control.
PLM software decreases manufacturing costs
Comprehensive product lifecycle management software enables companies to improve collaboration, streamline design processes and drive visibility throughout the organisation.
The plan has received unanimous approval from the Datastream Board of Directors and the Board of Directors of the Infor subsidiary which is a party to the acquisition agreement.
The transaction is subject to certain closing conditions, including Datastream stockholder approval.
Infor has commitment letters for equity and senior debt financing necessary to fund the purchase price of the acquisition.
Further reading
Latest ERP improves business functionality
A water treatment equipment manufacturer has updated its ERP with a system that brings business-specific functionality, including: data management; order quote generation and product traceability.
Collaborative software provides production picture
SCM Demand Planning 6.2, a Web-enabled, collaborative software providing an accurate picture of demand to drive production, inventory, distribution and buying plans has been launched by Infor.
ERP software can be readily extended
ERP software features SOA-based interoperability for the rapid introduction of extension software and enhancements that increase operational efficiency and reduce costs.
The parties will work to close this transaction as soon as reasonably possible but it is expected to be completed in the second calendar quarter of 2006.
Larry Blackwell, Datastream's chief executive officer, remarked, "Datastream's Asset Performance Management strategy delivers value to customers by connecting critical maintenance and asset information with operational data to improve organisational performance." Blackwell added, "By joining with Infor, our employees will have the opportunity to work with one of the leading software providers focused on world-class enterprise applications.
Our customers will benefit from a combined entity that will continue to support and improve Datastream's industry-leading products.
After a thorough review, Datastream's Board of Directors has concluded that this transaction maximises value for our stockholders." Infor delivers integrated enterprise resource planning (ERP) and supply chain solutions designed for manufacturers and distributors.
Given the asset-intensive nature of Infor's customer base and target markets, Datastream's industry-leading Asset Performance Management solutions will address a key business need common among Infor's customers and target markets.
The combined company will have 24,700 customers in 140 countries.
"Infor is changing what customers expect from an enterprise software provider by assembling and integrating best-of-breed solutions and professionals with deep industry knowledge that is unrivaled in the industry," said Jim Schaper, Infor's chairman and chief executive officer.
"We are filling a void in the market for customers that want one source for all of their industry-specific enterprise applications.
Our explosive new customer growth is proof that our model is working." Schaper continued, "Both Datastream and Infor are committed to future innovation using a services oriented architecture (SOA) that will enable those customers with asset-intensive maintenance requirements the ability to combine maintenance and asset information with production and operations data to uncover new performance management capabilities affordably from one vendor.
This development architecture will also enable customers to benefit from easier upgrades and future product integration." Datastream has more than 6,700 customers on support and a dedicated employee base that will expand Infor's expertise in the manufacturing and distribution sectors, as well as other assetintensive industries.
Datastream's technological leadership in developing Web-architected solutions will complement Infor's own commitment to assembling cost-effective solutions tailored to customers' specific operating environments.
It will also further enhance Infor's ability to meet the needs of customers worldwide.
Infor's financial backing, global reach and additional product solutions will provide Datastream customers with a path for continuous operational improvement and long-term growth.
* Acquisition Highlights - Magellan Holdings, a wholly owned subsidiary within the Infor Global Solutions group, has signed a definitive agreement to acquire Datastream Systems, a publicly traded asset management applications provider headquartered in Greenville, South Carolina.
Terms of the acquisition include the purchase of all Datastream capital stock for $10.26 per share in cash.
The acquisition will be financed through Infor's current cash balance, debt financing and equity capital to be provided by Golden Gate Capital and Summit Partners, Infor's existing equity sponsors.
Closing of the transaction remains subject to certain conditions including, but not limited to, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and Datastream stockholder approval.
JPMorgan and Credit Suisse First Boston acted as co-lead arrangers and joint bookrunners and Wells Fargo Foothill acted as documentation agent for the debt financing.
JPMorgan and Credit Suisse acted as joint financial advisors to Infor.
Kirkland and Ellis LLP acted as legal counsel to Infor.
The acquisition is expected to close after the previously announced Geac Computer Corporation transaction and Infor does not expect it to affect the timeline or closing of the Geac acquisition.
* About Infor - Infor is the largest global software provider focused on delivering world-class enterprise applications to select verticals in the manufacturing and distribution industries.
Infor delivers integrated solutions that address the essential challenges its customers face in areas such as supply chain planning, relationship management, demand management, ERP, warehouse management, marketing-drive distribution, and business intelligence.
With more than 2,300 employees in 47 global offices, Infor provides enterprise solutions to more than 18,000 customers in over 70 countries.
* About Datastream Systems - Datastream Systems provides Asset Performance Management software and services to enterprises worldwide, including more than 60 percent of the Fortune 500.
Datastream's solutions combine world-class asset management functionality with advanced analytics to deliver a powerful platform for optimizing enterprise asset performance.
Datastream's flagship product, Datastream 7i, delivers a complete Asset Performance Management infrastructure combining an advanced Service Oriented Architecture with broad enterprise asset management functionality, integrated procurement, advanced analytics and multi-site capability.
By using Datastream's solutions, customers can maintain and manage capital assets - such as manufacturing equipment, vehicle fleets and buildings - and create analyses and forecasts so they can take action to improve future performance.
Datastream was founded in 1986 and has customers in more than 140 countries.
• Infor: contact details and other news
• Email this article to a colleague
• Register for the free Manufacturingtalk email newsletter
• Manufacturingtalk Home Page
Search the Pro-Talk network of sites
