Koch Industries, a Wichita-based multinational corporation has acquired Infor, a New York-based enterprise software company for $13 billion. The deal was in news since February but Koch Industries announced that it has closed today. This deal has been considered as one of the top 10 enterprise acquisitions this year.
In the new deal, it has been decided that Infor will operate independently and will be involved in manufacturing more than software. Infor aims to use the Koch’s resources in order to build its product family with a focus on industry-specific solutions.
At the time of signing in February, Kevin Samuelson, the CEO of Infor noticed the potential of financial resources, a company like Koch is having, to his firm.
Kevin states, “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.”
Infor has notified that it has 7 of the top 10 global luxury brands, 9 of the 10 largest global hotel brands, and 17 of the top 20 global banks as its customers. According to records, the platform has raised a total worth of around $6 billion since it was founded in year 2002. Infor’s previous round was of $1.5 billion, which the firm had raised in January 2019.