Great Plains acquires Solomon Software
The software maker acquires its competitor in a cash and stock deal worth about $140 million, a move to absorb some of its technology and staff.
Fargo, N.D.-based Great Plains made the deal to absorb some of its former competitor's technology and staff, said company spokeswoman Kim Albrecht. Great Plains will operate Solomon as a separate business unit, she said.
Both companies make software that aids small and medium-sized businesses perform management chores such as accounting, payroll and electronic commerce. The company's main competitors are J.D. Edwards, Lawson Software and Oracle.
The addition will increase the size of Great Plain's customer base to 130,000 and increase its workforce to 2,220.
"The existing Great Plains business units and the new Solomon business unit will work together to share best practices and collaborate on next-generation research and development activities," the company said in a statement.