Workbrain Corporation to Be Acquired by Infor for $12.50 in Cash per Share

Acquisitions

Summary

It provides applications that run virtually every aspect of a business, from enterprise resource planning to the supply chain, customer relationship management and financial systems.### Toronto, Canada, April 04, 2007 --( PR.com )-- Workbrain Corporation (“Workbrain” or the “Company”) (TSX:WB) today announced that it has reached a definitive agreement with Infor Global Solutions European Finance, S.A.R.L.Roger Martin, the Chairman of the Board of Directors of Workbrain stated: “We are extremely proud of the business that our management team has been able to build, and the results that are being delivered through this transaction to our shareholders.Stikeman Elliott LLP provided legal advice to Workbrain.Workbrain’s CEO, David Ossip, and Alon Ossip, a Director of Workbrain, have agreed to vote the 3,994,200 common shares that they control in Workbrain, which represents approximately 22% of Workbrain’s issued and outstanding common shares, in favour of the transaction.The transaction is to be carried out by way of a statutory plan of arrangement and will be subject to customary closing conditions, including regulatory and securityholder approval.The definitive agreement and, once mailed, the proxy circular will be available at www.sedar.com and www.workbrain.com.Conference CallInvestors, media and analysts are invited to participate in their conference call, to be held as follows:Date: Monday, April 2, 2007Time: 2:30 PM ESTDial-in: (416) 849-2698 or Toll Free at (866) 400-2270Please dial-in approximately ten minutes prior to the start time.

Classifications

industries
Fintech & Banking
applications
ERP & Process Management

AskAI Classifications

Labels
Enterprise Software Cloud ERP SaaS

Linked Companies

Infor
$1B+