RAMSBaan
15th April 2003, 23:43
AMSTERDAM (AFX) - Invensys PLC is in talks with several parties to sell its business software unit Baan, according to Baan director Laurens van der Tang.
"The interest is high," Van der Tang said. Several international companies have shown interest in acquiring Bann in its entirety, he said, adding that a split up and sell off of the company in parts is not expected.
Invensys acquired Baan for 711 mln eur in 2000. Baan accounts for around 5 pct of the company's sales. Invensys announced this morning that it will sell Baan and other activities in order to focus on its core operations.
amsterdam@afxnews.com
Copyright 2003 AFX News Limited. All Rights Reserved.
:confused:
"The interest is high," Van der Tang said. Several international companies have shown interest in acquiring Bann in its entirety, he said, adding that a split up and sell off of the company in parts is not expected.
Invensys acquired Baan for 711 mln eur in 2000. Baan accounts for around 5 pct of the company's sales. Invensys announced this morning that it will sell Baan and other activities in order to focus on its core operations.
amsterdam@afxnews.com
Copyright 2003 AFX News Limited. All Rights Reserved.
:confused: