Workbrain Corporation to be Acquired by Infor for CDN$12.50 in Cash Per Share

Toronto, Canada (ots/PRNewswire) -

- Workforce Management Innovator to Join World's Largest Private
Software Company

Workbrain Corporation ("Workbrain" or the "Company") (TSX:WB)
today announced that it has reached a definitive agreement with Infor
Global Solutions European Finance, S.A.R.L. ("Infor") under which
Infor will acquire all of Workbrain's outstanding common shares at a
price of CDN$12.50 per share in cash pursuant to a statutory plan of
arrangement. The transaction values Workbrain, on a fully diluted
basis, at approximately CDN$227 million dollars.

This all-cash transaction for 100% of the Company's common shares
represents a 25.6% premium over Workbrain's volume weighted average
share price on the Toronto Stock Exchange on Friday, March 30, 2007,
and a 40% premium over the volume weighted average price for the most
recent 30 trading days on the Toronto Stock Exchange.

The transaction has been unanimously approved by Workbrain's Board
of Directors, which recommends that shareholders vote in favour of
the transaction.

"In just over seven years, Workbrain has built the leading
workforce management software company based on innovation and
attention to the customer. Joining Infor will accelerate our current
momentum by providing us access to Infor's 70,000 customers and
extensive global distribution network. We believe that all of our
stakeholders will benefit from this combination," said David Ossip,
CEO of Workbrain.

Infor is the world's largest private software company and third
largest enterprise software provider. It provides applications that
run virtually every aspect of a business, from enterprise resource
planning to the supply chain, customer relationship management and
financial systems. Infor focuses on business-specific solutions,
which require less customization, provide more functionality and
result in lower cost of ownership.

"Infor's successful business model combines the built-in business
experience of focused software providers like Workbrain with the
scale, stability and breadth of solutions of one of the largest
software providers," said Jim Schaper, Chairman and CEO of Infor. "We
will continue to invest and build upon Workbrain's solutions.
Workbrain expands our current human capital management offering with
unmatched domain expertise in the areas of time and attendance,
scheduling, absence management and workforce planning."

Mr. Roger Martin, the Chairman of the Board of Directors of
Workbrain stated: "We are extremely proud of the business that our
management team has been able to build, and the results that are
being delivered through this transaction to our shareholders. This
announcement follows a comprehensive process which has been
supervised by our Board with the assistance of our financial
advisors."

Workbrain's Board of Directors was advised by Merrill Lynch and
Genuity Capital Markets, each of whom provided Workbrain's Board of
Directors with an opinion that the consideration to be received by
securityholders under the transaction is fair from a financial point
of view. Stikeman Elliott LLP provided legal advice to Workbrain.

Workbrain's CEO, David Ossip, and Alon Ossip, a Director of
Workbrain, have agreed to vote the 3,994,200 common shares that they
control in Workbrain, which represents approximately 22% of
Workbrain's issued and outstanding common shares, in favour of the
transaction.

The transaction is to be carried out by way of a statutory plan of
arrangement and will be subject to customary closing conditions,
including regulatory and securityholder approval. The transaction is
expected to close in June of 2007.

A proxy circular will be prepared and mailed to shareholders by
early May providing shareholders with important information about the
transaction. The definitive agreement and, once mailed, the proxy
circular will be available at www.sedar.com and www.workbrain.com.

Conference Call Investors, media and analysts are invited to
participate in our conference call, to be held as follows:

Date: Monday, April 2, 2007

Time: 2:30 PM EST

Dial-in: +1-416-849-2698 or Toll Free at 866-400-2270

Please dial-in approximately ten minutes prior to the start time.
Replay information is available upon request from Workbrain's media
relations contacts.

About Workbrain

Workbrain provides the most widely deployed web-based workforce
management solution for large enterprises. The company is the only
provider of Total Workforce Management that helps organizations plan,
deploy, and manage their workforce to reduce costs, increase sales,
and boost employee satisfaction. Clients such as British Airways,
General Mills, Target Corporation, and Lifespan choose Workbrain's
industry-focused workforce management solutions to integrate
workforce planning, labor forecasting, workforce scheduling, time and
attendance, and workforce analytics on a single platform. For more
information, please visit www.workbrain.com.

About Infor

Infor delivers business-specific software to enterprising
organizations. With experience built in, Infor's solutions enable
businesses of all sizes to be more enterprising and adapt to the
rapid changes of a global marketplace. With more than 70,000
customers, Infor is changing what businesses expect from an
enterprise software provider. For additional information, visit
www.infor.com.

Forward-Looking Statements

This news release contains forward-looking statements which are
not historical facts, but are based on certain assumptions and
reflect Workbrain's current expectations. These forward-looking
statements are subject to a number of risks and uncertainties that
could cause actual results or events to differ materially from
current expectations. Workbrain disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Given these
risks and uncertainties, investors should not place undue reliance on
forward-looking statements as a prediction of actual results.

Workbrain is a trademark of Workbrain, Inc. All other product or
company names mentioned are the property of their respective owners.

ots Originaltext: Workbrain Corporation
Im Internet recherchierbar: http://www.presseportal.de

Contact:
For further information: For Workbrain: Pat Ladisa, Corporate
Communications, +1-416-421-6700 extension 2579,
pladisa@workbrain.com; For Infor: Wade Coleman, Infor,
+1-678-319-8748, wade.coleman@infor.com


	hier anmelden...