Another One Bites the Dust – SSA Gored to Death
P.J. Jakovljevic - May 3, 2000

Event Summary

On April 7, Gores Technology Group (GTG), a leading international technology and management company, and System Software Associates, Inc. (SSA) announced that SSA has agreed to sell substantially all of its assets to a newly formed subsidiary of Gores Technology for a total of approximately $52 million in cash and 25% of the common stock of the newly-formed subsidiary. The parties intend to effect the sale in an expeditious manner via a voluntary Chapter 11 bankruptcy proceeding to be filed on or about April 14. The Chapter 11 proceeding will not include SSA's subsidiaries...