Koch Industries announced today that it has completed the acquisition of the remaining portion of Infor from Golden Gate Capital. Details about the purchase price were never officially made but according to a report by TechCrunch it was close to $13 billion.
Infor is now a standalone subsidiary of Koch Industries, and continues to operate under the company’s current management team from its headquarters in New York City.
Infor, a global leader in business cloud software specialised by industry, has been a key component of Koch Industries’ technological transformation. Koch Industries’ companies have made more than $26 billion in technology-related investments in the past six years, transforming a global portfolio of businesses spanning multiple industries. In addition to being an investor since 2017, Koch Industries has been a key customer, implementing Infor solutions across its businesses in areas like enterprise resource planning, human resources, supply chain, asset management and finance.
“This acquisition brings new key capabilities to Koch Industries to accelerate digital transformation, while providing Infor with resources and industry knowledge to continue growing its expertise in mission critical software for industries like manufacturing, retail and distribution, among others,” Mark Bannerman, Managing Director – Infor Services at iOCO says.
“Additionally, Infor’s industry-leading Healthcare Operations Platform and Interoperability Solutions extend Koch Industries’ involvement in healthcare, where Koch Industries’ companies are already engaged in connected device manufacturing, medical product purification, and hospital supplies.” he adds.
The acquisition positions Infor as one of the most well-capitalized companies in technology. Infor has invested approximately $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.
“Joining Koch Industries is an exciting new chapter in Infor’s history,” said Kevin Samuelson, CEO of Infor. “It allows us to take a long-term approach, focused on developing industry-specific solutions that help customers modernize and drive immediate, tangible impact.”
“It’s been clear from day one that Infor’s unique approach and innovative team are truly bringing value to the market,” said Jim Hannan, Executive Vice President and CEO of Enterprises for Koch Industries. “We want to thank Golden Gate Capital for such a productive partnership and welcome Infor’s 17,000 global employees to Koch Industries.”
“We are proud to have founded and grown Infor into an industry leader over the past 18 years,” said David Dominik, Co-Founder of Golden Gate Capital. Golden Gate Capital Managing Director Rishi Chandna added, “We have enjoyed our partnership with management and Koch Industries, and wish the Infor team well in the company’s next era of growth.”