Very good analysis of PEG-funded graveyard activity

The redoubtable Jim Shepherd and his team at AMR Research have published a research note that lays out a nice overview of the motivations and activity of private equity groups like Golden Gate Capital in the ERP Graveyard market. It appears to be available to the general public here - highly recommended.

He concludes that the most logical exit for Golden Gate investors, for example, might well be a sale to SAP. But I'd prefer their Redwood Shores competitor - because of course, you could then call the company Inforacle. Take a look at their logo - they've already got the big red O.

Infor: No time to diet

As the powerful digestive juices of Golden Gate Capital complete their work on erstwhile competitor SSA Global, the ever-expanding Infor let slip that it also found time to acquire Extensity and Systems Union Group - adding more financial and reporting applications to the stew.

But the real headline seems to be that Infor now has combined revenues of $2.1 billion, which as the press release helpfully notes, is "more than Infor's two largest competitors combined in its target markets." Someone in the Microsoft legal department might want to alert Neelie Kroes (heir to the Brussels throne vacated by Mario Monti), if only to throw her off their scent for a while.

One other fun note on the Infor press release - the largest paragraph by far is devoted to a description of the various credit facilities used in the deals, and the smorgasbord of bankers and lawyers who continue to feed at the Infor trough.