Infor has officially announced that an affiliate of Koch Equity Development LLC, the investment and acquisition subsidiary of Koch Industries, Inc., has entered into a definitive agreement to acquire the remaining equity stake in Infor held by Golden Gate Capital. At the close of the transaction, Infor will become a standalone subsidiary of Koch Industries, and will continue to be operated by the company’s current management team from its headquarters in New York City.
“Koch’s decision to acquire Infor is a strong endorsement of our product strategy and focus on creating innovative solutions for our customers,” said Kevin Samuelson, CEO of Infor. “As a subsidiary of a $110 billion+ revenue company that reinvests 90% of earnings back into its businesses, we will be in the unique position to drive digital transformation in the markets we serve. We are rapidly expanding our industry-specific CloudSuites and offering customer experiences and outcomes that are well beyond what is standard in enterprise software.”
Infor is a global leader in business cloud software specialized by industry. Over the years, Infor has invested approximately $4 billion in product design and development to deliver industry-specific CloudSuites that solve the most challenging operational issues for over 68,000 customers around the globe. Infor’s CloudSuites are cloud-native, industry-specific and built to help companies modernize and drive immediate, tangible impact. Infor’s key industries include manufacturing, distribution, healthcare, public sector, retail and hospitality.
In addition to being a key enterprise customer, Koch has been an investor in Infor since 2017. With the strength of its balance sheet and a AA corporate credit rating, Koch intends to quickly position Infor as one of the most well-capitalized companies in technology. According to the announcement, Koch companies have made more than $26 billion in technology-related investments in the past six years, transforming a global portfolio of businesses spanning multiple industries.
“Software is no longer an industry vertical; it is a disruptive layer that is transforming every facet of society,” said Jim Hannan, executive vice president and CEO of enterprises for Koch Industries. “As a global organization spanning multiple industries across 60 countries, Koch has the resources, knowledge and relationships to help Infor continue to expand its transformative capabilities.”
The transaction is subject to customary conditions and regulatory approvals and is expected to close in the first half of 2020. Financial terms of the transaction were not disclosed.
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