Koch acquires remaining shares in software maker Infor for $13 billion
By Akshay Kedari  Date: 2020-02-06

Koch acquires remaining shares in software maker Infor for $13 billion

Koch Industries, Inc., announced buying out outstanding equity in Infor, held by Golden Gate Capital. The transaction has valued Infor at almost $11 billion, or around $13 billion, including preferred stakes. Before the deal, Koch owned around 70% of the total shares in Infor.

The transaction highlights Koch’s impetus into technology, a comparatively new priority for an expanding corporation. The company is well-known for paper goods, refineries, and other industrial products.

With the help of an AA corporate credit rating and strong balance sheet, Koch will help Infor in positioning it as one of the most well-capitalized firms in technology. The subsidiaries of the company have earned over $26 billion in investments related to technology in the last six years.

Kevin Samuelson, the CEO, Infor, reportedly stated that the acquisition is a positive move that would enable the company to work with a well-capitalized parent company. The company is rapidly developing industry-specific CloudSuites and delivering experiences and outcomes beyond enterprise software standards, he added.

Jim Hannan, Executive Vice President and CEO, Koch Industries, reportedly quoted saying that software has no longer remained only as an industry vertical, but it has turned into a disruptive layer that is changing every aspect of society. As a global parent organization to numerous industries across 60 nations, the company owns the resources, relationships, and knowledge to enable Infor in continuously expanding its transformative potentials, he further added.

After the acquisition, Infor will become an individual subsidiary of Koch Industries. The company will continue to run separately under its present management team.

The acquisition is subject to regulatory approvals and customary conditions. The deal is expected to close by the first half of the year 2020. However, the financial terms of the transaction have not been disclosed yet.

 

Source links:

https://finance.yahoo.com/news/koch-buys-rest-infor-deal-120014220.html

https://techcrunch.com/2020/02/04/koch-industries-acquires-infor-in-deal-pegged-at-nearly-13b/

About Author

Akshay Kedari    

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

Uber halts decision to shift APAC headquarters from Singapore
Uber halts decision to shift APAC headquarters from Singapore
By Akshay Kedari

Uber Technologies Inc., the American ride-hailing giant, has reportedly halted the company’s decision to relocate its Asia Pacific headquarters from Singapore to Hong Kong until December 2022. Sources cite that the company’s decision was...

PCI Pharma extends global clinical supply-chain services in Europe
PCI Pharma extends global clinical supply-chain services in Europe
By Akshay Kedari

U.S. based biopharmaceutical and pharma outsourcing services company, PCI Pharma services has reportedly announced that it reached a noteworthy milestone through the development of COE (Clinical Center of Excellence) in Berlin. According to credible...

Dassault to use Proxem’s AI solution to advance 3DEXPERIENCE platform
Dassault to use Proxem’s AI solution to advance 3DEXPERIENCE platform
By Akshay Kedari

French software company, Dassault Systèmes has recently revealed plans to enhance its 3DEXPERIENCE platform’s collaborative data science abilities, allowing customers to take advantage of their data patrimony by taking part in new v...

EvoNexus partners with Qualcomm to deploy 5G Incubator program
EvoNexus partners with Qualcomm to deploy 5G Incubator program
By Akshay Kedari

California-based technology startup incubator, EvoNexus has recently partnered with Qualcomm to launch its 5G incubator program. Reportedly, Qualcomm would function as a sponsor of this initiative to assist budding startups to build their 5G wireless...

University of California launches unified COVID-19 research data center
University of California launches unified COVID-19 research data center
By Akshay Kedari

The University of California Health has reportedly launched a secure and centralized database known as UC CORDS in a bid to accelerate COVID-19 research. Sources with the relevant information stated that researchers will gain access to around 460 mi...