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Baan is a vendor of popular ERP software.
The Baan Corporation was created by Jan Baan in 1978 to provide financial and administrative consulting services. With the development of his first software package, Jan Baan entered what was to become the ERP industry. A few years later his brother, Paul, joined what was to become the largest software family firm in Dutch history.
The Baan company focuses on the creation of enterprise resource planning (ERP) software.
Facing worsening financial difficulties, reporting seven consecutive quarterly losses and bleak prospects, BAAN was sold to Invensys, a UK automation, controls and process solutions Group to create its new Software and Services Division.
Poor market performance of BAAN ERP (Baan V) and delays in introducing the new BAAN version (VI or Gemini) led Invensys to sell BAAN in 2003 to SSA Global for a cash consideration of $135m. The sale of Baan was consistent with Invensys' stated objectives to divest non-core assets as part of its overall plan to improve capital strength and increase strategic focus.
The new BAAN ERP version (Gemini) was introduced in late 2004.
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