Infor, a global leader in business cloud software with a major presence in the Middle East region, said it has received a $1.5 billion investment from shareholders Koch Equity Development (KED) and Golden Gate Capital ahead of a potential initial public offering (IPO).
This investment builds on KED’s investment of more than $2 billion in early 2017, and it represents an important milestone as Infor considers a potential IPO in 2019 or 2020, subject to market conditions.
"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," remarked CEO Charles Phillips.
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.
Infor CloudSuite is now the only fully multi-tenant ERP suite spanning front and back office applications, as well as logistics with global support (in terms of languages, currencies, and localizations).
“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,” remarked Jim Hannan, Koch the executive VP and CEO of Enterprises for Koch Industries.
“Infor’s innovative products have helped lead our digital transformation as we continue to deploy them globally for 120,000 employees,” he added.
"Infor has undergone a remarkable evolution over the years," remarked David Dominik, the managing director of Golden Gate Capital, which made its first investment in Infor in 2002.
"We remain strong supporters of the company’s strategy and leadership team as they pursue their next phase of growth and continue to enhance the operations of businesses across a range of sizes and industries," he added.
With over $3 billion of revenue in fiscal year 2018, Infor became the first company to move mission critical ERP application suites to public clouds for entire industries.
Its cloudSuites are the foundation for digital transformation for more than 9,500 customers in 110 countries. Infor applications span financials, manufacturing, supply chain, human resources, and customer relationships.-TradeArabia News Service
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