Home Deals Koch tips $US2 billion into Infor

Business software provider Infor is to receive a multi-billion dollar investment from Koch Industries subsidiary Koch Equity Development.

Koch Equity Development (KED) is to invest more than US$2 billion in Infor.

"The support we are providing to Infor marks one of the largest investments KED has ever made and demonstrates the confidence we have in Infor's technology, team and business model," said KED president Matt Flamini.

But KED will not be a passive investor. In addition to taking four of the nine seats on the Infor board, senior managing director Brett Watson said, "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."

Infor said it would use the capital injection "to accelerate innovation, expand distribution, and continue disrupting the enterprise applications industry".

Infor's existing shareholders, including Golden Gate Capital, Summit Partners, and management, will maintain control of the company.

Golden Gate Capital managing director David Dominik said: "KED's investment is a tremendous endorsement and we look forward to working together with them and supporting management as they continue delivering industry-leading software applications to a growing list of world class customers."

To put the KED investment into perspective, Infor spent a similar amount on product design and development over the last five years.

"Koch is one of the largest private companies in the world with diversified holdings and immense resources to support the next exciting phase of growth at Infor and we are thrilled to have their support," said Infor chief executive Charles Phillips.

"Some of the largest companies in the world have approached Infor looking for a modern alternative to the legacy options available for mission critical business applications. Infor has the scale and capital to provide a digital platform for the Global 5000."

KED parent Koch Industries is reportedly the second-largest privately held company in the US. It is largely owned by the politically active and philanthropic Koch brothers, Charles and David.

Other KED investments include the privatisation of ADT Security and the acquisition of connector and component manufacturer Molex.

The transaction is expected to close in early 2017, subject to conditions and approvals.

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Stephen Withers

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Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

 

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