Great Plains to Acquire Rival Software Company
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.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.