Koch Industries closes nearly $13B Infor acquisition
Koch Industries announced today that it has closed on the acquisition of Infor, announced in February. The company never officially announced the purchase price, but sources indicated that it was close to $13 billion, putting it in line to be one of the top 10 enterprise acquisitions this year.
The company will remain an independent subsidiary of Koch, which tends to deal more in manufacturing than software. The goal is to use the resources of Koch to continue to build out the Infor product family with a focus on industry-specific solutions, according to the company.
At the time of the deal in February, CEO Kevin Samuelson certainly saw the potential of having a company with the financial resources of Koch backing his organization.
“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,” Samuelson said.
As the company pointed out, Infor is helping customers move to the cloud, even in industries like manufacturing, distribution and finance that might otherwise be stuck on legacy systems. This transition to the cloud is becoming even more pressing as companies deal with the COVID-19 crisis and are forced to find creative ways to keep their businesses going, even when many employees can’t come into the office. Having access to applications in the cloud certainly helps ease that burden.
The company counts some of the largest organizations in the world as customers, including 17 of the top 20 global banks, 9 of the 10 largest global hotel brands and 7 of the top 10 global luxury brands
Infor was founded in 2002 and raised over $6 billion along the way, according to PitchBook. Its most recent investment before the acquisition was for $1.5 billion in January 2019.
Koch Industries announced today that it has closed on the acquisition of Infor, announced in February. The company never officially announced the purchase price, but sources indicated that it was close to $13 billion, putting it in line to be one of the top 10 enterprise acquisitions this year. The company…
Recent Posts
- Surveillance has a body count
- You can now finally use Sonos Voice Control with Spotify tunes – here’s how
- Apex Legends tournament disrupted by rogue RCE exploit hack
- TapeACall is about to get a lot more expensive
- House passes bill banning data brokers from selling personal data to foreign adversaries
Archives
- March 2024
- February 2024
- January 2024
- December 2023
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- December 2019
- November 2019
- December 2011