An affiliate of Koch Equity Development, the investment and acquisition subsidiary of Koch Industries, 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.
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-capitalised companies in technology.
“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 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,” said Samuelson. “We are rapidly expanding our industry-specific CloudSuites and offering customer experiences and outcomes that are well beyond what is standard in enterprise software.”
Jim Hannan, EVP at Koch Industries, said Koch has the resources, knowledge and relationships to help Infor continue to expand its transformative capabilities.
Infor has invested $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 modernise and drive immediate, tangible impact. Infor’s key industries include manufacturing, distribution, healthcare, public sector, retail and hospitality.
David Dominik, co-founder of Golden Gate Capital, said they were selling their remaining stake to Koch Industries because of the significant strategic value between Infor and Koch.