$1.5bn funding for global IT firm eyeing IPO
A global leader in business cloud software has announced an agreement to receive a $1.5 billion investment.
Multinational New York-headquartered Infor has 68,000 customers in more than 170 countries.
The sum will come from shareholders Koch Equity Development, LLC (KED) and Golden Gate Capital.
"Koch and Golden Gate Capital have been phenomenal partners for Infor, and all of our 17,300 employees are excited about this milestone as we prepare for the next stage of growth," said Charles Phillips, CEO of Infor.
Under Phillips' leadership, and over the course of Infor’s partnership with KED and Golden Gate Capital, Infor has invested approximately $2.5 billion in product design and development over the last five years and delivered more than 475 new products, 1,870 integrations, and 20,700 industry features in its CloudSuite product line.
“Koch was a customer of Infor before we became an investor in the Company, and Koch Industries’ companies continue to move their most mission critical applications to Infor CloudSuites,” added Jim Hannan, Koch Executive Vice President and CEO of Enterprises for Koch Industries, Inc.
“Infor’s innovative products have helped lead our digital transformation as we continue to deploy them globally for 120,000 employees.”
Infor has expanded its presence in key industries such as healthcare, manufacturing, retail, the public sector, and hospitality.
Over 72 per cent of all U.S. hospitals run Infor applications, as well as 19 of the top 20 car suppliers and 8 of the top 10 fashion brands.