Great Plains to Acquire Rival Software Company

Great Plains, an accounting software industry leader, announced yesterday plans to acquire rival software company, Solomon Software.

The new company will have more than 130,000 customers, 2,200 team members and a worldwide network of 2,000 channel partners. Great Plains will acquire Solomon through the issuance of approximately 2,600,000 shares of Great Plains common stock and $35 million in cash. The deal is scheduled to close in June, the first month of Great Plains’ fiscal year.

Solomon Software will operate as the Solomon business unit of Great Plains. Michael S. Rupe, current president and chief executive officer of Solomon Software, will serve as president of the new Solomon business unit.


Already a member? log in here.

Editor's Choice

Upcoming CPE Webinars

Dec 3The materials discuss the concepts and principles in the AICPA’s new special purpose framework.
Dec 8Kristen Rampe will cover how to diffuse the tension in challenging situations in this one-hour webinar.
Dec 9A key component to improving your firm’s workflow efficiency while enhancing your profitability at the same time is how you leverage emerging technologies.
Dec 16Kristen Rampe will give tips on how to bring confidence into the room and build a valuable network.