Koch Equity Development (KED) said it plans to invest more than $2 billion in Infor, a New York-based cloud software provider.
Infor aims to use the investment for growth capital to accelerate innovation and expand distribution. The transaction is expected to close early this year, subject to customary closing conditions and regulatory approvals.
“Infor’s demonstrated capability to help companies across a wide spectrum of industries automate and improve efficiency is relevant to our broad portfolio of invested companies and we look forward to exploring co-innovation opportunities,” said Brett Watson, senior managing director of KED.
Infor’s cloud strategy uses Amazon Web Services, enabling the company to invest in deep industry functionality with capital that would otherwise be needed to maintain its own data center infrastructure, the company said. Infor now counts more than 66 million users of its cloud applications.
Under CEO Charles Phillips’ leadership, Infor invested approximately $2 billion in product design and development over the last five years and delivered more than 400 new products, 1,700 integrations, and 16,000 industry features in its CloudSuite product line. Infor now has 15,000 employees and operates in more than 170 countries.
Infor’s existing shareholders, including Golden Gate Capital, Summit Partners, and Management will maintain control of the company. KED will have the right to appoint four of nine directors on the board of Infor’s parent company.