Golden Gate Capital is spending around $1 billion on the company and will move the software operation into one of its other operations, Infor.   Charles Jones, president and chief executive of Geac said the deal would 'provide a long-term future for our business'.  He added: 'Our vertical market success should be enhanced by the current initiatives and momentum within the Golden Gate portfolio. Golden Gate's goal is to combine comprehensive enterprise software with best-of-breed market expertise to create a new class of "superbreed" software. It's a strategy that is working and is the primary reason why Golden Gate sought out Geac.'

Golden Gate has come to prominence as "money men" look for ways for making more of it during a slow period on the stock market.  Golden Gate also owns customer relationship management software company Concerto and has recently merged it with another new acquisition, call centre company Aspect.   The companies are delisted from the public markets and become privately-owned.  

Infor, an enterprise resource planning software company, is another of its companies.   All the software products 'and the employees who support them will move to Infor' said a spokesman.  The other products, financial software and industry specific applications, will be reorganised