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Infor to Acquire SSA Global

Infor to Acquire SSA Global
May 2006

It was announced on Monday May 15 that Infor have signed a definitive agreement to acquire
SSA Global. The deal which is due to be completed in the third quarter of 2006 will make Infor the
third largest ERP vendor in the world.
After the signing, Mike Greenough, chairman, president and CEO of SSA Global, made the
following comment: "In a rapidly consolidating marketplace we have seen that size and scale
matter.”

With more than 3,100 employees in 50 global offices, Infor is an $800 million company and
provides enterprise solutions to almost 24,700 customers in over 100 countries. Headquartered
in Chicago, SSA Global had total sales in 2005 of $711.8 million with over 50 locations worldwide
and its product offerings are used by customers in over 90 countries.

The Infor/SSA Global deal means many companies will once again be evaluating whether they go
through a large expensive upgrade path or partner with software vendors offering specialized
solutions with proven benefits and ROI.  Many companies are justifiably nervous about large
scale ERP upgrades of seven figures plus while their existing ERP system is working reliably.
SAI reaffirms that it will continue to offer financial software solutions to work with all SSA Global
customers regardless of ERP version or release.

Cashbook Ltd will also be working with Infor customers to deliver Cashbook as a Best-of-Breed
solution which integrates seamlessly with ERP data to reduce costs and speed transaction
handling times across Accounts Payable, Accounts Receivable and Bank Reconciliation
processes.

After the recent announcement of the planned acquisition, Cashbook Ltd Business Development
Manager Richard Birchall made this statement:

“We already have Cashbook customers today on both SSA Global and Infor platforms. Their
preoccupations with Cash are the same. For this reason I firmly believe that Cash today
demands a Best-of-Breed model that sits outside the ERP. For example, it is widely accepted
today that Business Intelligence is a Best-of-Breed activity which happens in a flexible, modular
environment using ERP-agnostic architecture. I have no doubt that Cash will soon be seen as
occupying a similar space.

“To make Cash the corporate mantra by which all your business processes are driven, you need
a Best-of-Breed solution that handles Cash in the most effective way possible based on the
countries you are in, the banks you work with, and the corporate culture predominant in each
business unit. With over 150 banking adaptors, and Cashbook solutions for every major
regulatory market in the world, SAI looks forward to extending our solutions to a wider
consolidated customer base as a result of this development.”
News Room
The Global Payments & Bank
Reconciliation solution that we use with
Cashbook has enabled us to reduce
dramatically the number of bank
accounts and time taken to complete
payment runs. Our bank reconciliation
process across Europe runs smoothly
and we know what our cash balances are
all the time. We’ve done an AR Drafts
project in France, Bank Statement
Upload process for 20+ accounts, payroll
file imports across Europe, new project
implementation called Global Payments
for our European payments - all in the
last 18 months. The people at Cashbook
are an extension of Formica’s IT
infrastructure and true partners in
Formica’s search for more efficiency in
cash processing.

Siobhan Brown, Formica Europe Accounts
Executive- UK.
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