Lawson Software downgraded to "hold"

06/03/05 - Wells Fargo Securities

NEW YORK, June 3 (newratings.com) - Analyst Jason Lind of Wells Fargo Securities downgrades Lawson Software Inc (LWSN) from "buy" to "hold."

In a research note published this morning, the analyst mentions that the company has announced its plans to acquire Intentia International, a Swedish software company, for $480 million. Lawson Software expects to close the deal by the end of this year, the analyst says. Wells Fargo Securities expresses its concern regarding the company’s risk profile, given the risks associated with the Intentia International acquisition, the recent departure of the CEO, Jay Coughlan, and stiff competition in the software segment.