Infor, the enterprise software and services provider company has confirmed that it is getting acquired by Koch Industries for around $13 billion. Notably, Koch is one of the clients of Infor as well as one of the leading investors in the firm as well. Interestingly, Infor has been thinking about going public for a while and this deal might have come in perfect time for the company to do that. The firm after the deal will continue to operate from its headquarters in New York.
Jim Schaper had started the company in 2002 and had raised over $4 billion in financing since its inception. It counts names like Golden Gate Capital, Summit Partners and Salesforce Ventures among its backers apart from Koch Equity Development.
Kevin Samuelson, the CEO of Infor through a statement said that “Koch’s decision to acquire Infor is a strong endorsement of our product strategy and focus on creating innovative solutions for our customers. As a subsidiary of a $110 billion+ revenue company that re-invests 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.”
Koch Industries' executive vice president and CEO of enterprise commenting on the deal said, “Software is no longer an industry vertical, it is a disruptive layer that is transforming every facet of society. 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.”
Image courtesy : siliconangle