For the second time this week, a sale has been announced that will affect the enterprise applications market. Previously, it was J.D. Edwards & Co.; now it's applications vendor Baan Co. NV.
The Netherlands-based Baan, which specialises in manufacturing and industrial applications, has announced that its parent company, London-based, Invensys, a maker of control systems, had sold it to an investment consortium. Invensys had recently signalled that despite investing millions of dollars into the troubled Baan, it planned to sell the company off.
The buyers are Cerberus Capital Management and General Atlantic, who also own SSA Global Technologies, a ERP and business process management software provider. Among other areas, SSA specialises in process and discrete manufacturing.
Baan said the newly-combined company will represent $600 million in revenue and 16,500 customers once the merger is complete. That process is expected to take several months.
"The strength of Baan's solutions, loyal customer base and dedicated employees has provided a foundation for an accelerated investment decision by Cerberus and General Atlantic," Baan president, Laurens van der Tang, said. "We have established a customer-driven company that is well positioned for growth as we begin the second 25 years of Baan."