Baan shares soar on deal rumours

Financially troubled business software supplier Baan NV saw its share price soar yesterday, fueled by rumours about buyers interested in acquiring part or all of the company.

At the end of yesterday's trading in Amsterdam, Baan shares closed at 3.06 euros ($US2.77), more than 90 percent higher than Wednesday. The surge spilled over to the US, where Baan shares in late-morning trading on the Nasdaq exchange were selling at $3.16, compared to Wednesday's closing price of $1.69.

Baan's share price has taken a beating in the last few months as the company reported widening losses and shrinking sales.

The share price jumped amid published rumors that database vendor Oracle was on the list of potential buyers of Baan's customer relationship management (CRM) software unit.

Baan announced the availability of Interaction, a new electronic CRM suite for its BaanFrontOffice software. Interaction allows businesses to manage marketing communications and create sales channels based on call-centres, the company said in a statement.

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