By Tony Hallett, 28 June 1999 12:31
NEWS Baan, the troubled enterprise resource planning (ERP) software company, has said it is close to securing a $75m credit facility, intended to see it through the current downturn in the ERP market. Quoted in the Wall Street Journal Europe, recently appointed CEO, Mary Coleman, said negotiations with several international banks are drawing to a close. In spite of losses, shareholder lawsuits and an accounting scandal in the not-too-distant past, Baan's fortunes have improved in recent weeks with a rising share price and even speculation about interest from other software vendors. Baan has denied approaches by any prospective takeover candidates.
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