Blackstone Group responds to New Mountain Capital's proposal and invests...

Blackstone Group responds to New Mountain Capital's proposal and invests $570 million into JDA Software Group Inc. This deal grants Blackstone a minority stake in the supply-chain management software provider, preventing its potential sale to Honeywell International Inc. New Mountain, JDA's majority shareholder, will remain so. The new capital injection will fuel product innovation, particularly in cloud-based development, reducing JDA's interest expense by $70 million annually and improving its financial position.

Saturday, 20 August, 2016