Koch invests more than $2 billion in the cloud

Koch Equity Development, the investment and acquisition unit of Koch Industries, has agreed to invest more than $2 billion in Infor, a cloud-based business software applications provider.

Koch’s investment will allow Infor to accelerate product development and expand into new markets. According to the company, Infor now has more than 66 million users of its cloud applications. The company’s double-digit revenue growth is in its most recent quarter. More than half of Infor’s software revenue is now derived from cloud applications.

The company has 15,000 employees and operations in more than 200 countries and territories.

This transaction is expected to close in early 2017. The Koch investment will be a combination of preferred and common equity.

Infor’s existing shareholders, including Golden Gate Capital, Summit Partners, and Management will maintain control of the company. Koch will have the right to appoint four of nine directors on the board of Infor’s parent company.

This story was originally published November 16, 2016 at 9:42 AM with the headline "Koch invests more than $2 billion in the cloud."