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GAC |
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Does anyone follow this small but growing Canadian company, I was fortunate to buy it a number of years ago at $2.30. This latest acq. should give them quite a boost. Also check out crate.ca.geac.com Good luck
Geac Computer Corporation Limited announced that it has signed a definitive agreement, subject to finalization of bank financing and normal regulatory and other approvals, to acquire Dun & Bradstreet Software Services, Inc. and its worldwide affiliates (DBS). Dun & Bradstreet Corporation had previously announced the divestiture of DBS as part of a plan to reorganize its other businesses into three publicly traded independent companies.
Geac will pay US $150 million in cash and will give Dun & Bradstreet Corporation an 18 month term note for US $41.25 million. The transaction is expected to close in early November.
Dun & Bradstreet Software Services, formed in 1990 as the result of the merger of Management Science of America, Inc. and McCormack & Dodge Corporation, is a premier supplier of integrated enterprise financial, human resources, procurement, manufacturing, distribution and decision-support application suites for client/server and mainframe customers. In addition to its headquarters in Atlanta, Georgia and major operations in Westborough, Massachusetts, the company has sales and support operations in 18 countries and serves more than 3,500 customers in 50 countries. Annual revenues are approximately US$325 million.
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