Lawson Software to buy HR mgmt software maker

CALIFORNIA, USA: Lawson Software Inc said it will buy privately-held software-as-a-services company Enwisen for $70 million in cash to boost its human resource-management products portfolio.

Lawson, which makes enterprise software, said the deal also includes a contingent earnout payment of $5 million in cash if certain conditions are satisfied, as of June 30, 2012.

Novato, California-based Enwisen has about 260 customers and has partnered Lawson since 2008.

Lawson expects the acquisition to close by Dec. 31 and add about $8 million in revenue to fiscal 2011, ending May 31, 2011, it said in a statement.

In fiscal 2012, the acquisition is expected to add 2 cents a share to earnings and $28-$30 million to revenue.

Shares of Saint Paul, Minnesota-based Lawson closed at $9.15 on Monday on Nasdaq. They have risen 8 percent since the company reported first-quarter results in September end.