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Investment group buys Baan

Long rumored to be on the block, enterprise applications vendor Baan was officially sold today to an investment group.

London-based Invensys plc sold enterprise applications vendor Baan today to an investment group for $135 million.

The investment group, which includes Cerberus Capital Management, L.P. and General Atlantic Partners, plans to combine Baan with another of its holdings, SSA Global Technologies, a maker of technology tools largely for the manufacturing industry. The two companies will have roughly $600 million in combined revenues and 16,500 customers.

Baan, which makes ERP, CRM, and supply chain software mostly for the manufacturing industry, has 6,500 customers worldwide. Baan becomes the second enterprise applications vendor focused on the manufacturing space to be sold this week. Yesterday PeopleSoft announced its intention to buy J.D. Edwards & Company in a deal worth $1.7 billion.

Invensys acquired Baan in August 2000.

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