The global conglomerate Koch Industries plans to invest $2 billion in Infor, an enterprise software provider for various industries including financial services.
The tech firm said in a press release that the investment, made through the company's Koch Equity Development arm, would allow it to accelerate innovation, expand its distribution and compete better.
"Koch is one of the largest private companies in the world with diversified holdings and immense resources to support the next exciting phase of growth at Infor," Infor CEO Charles Phillips said in the press release. "Some of the largest companies in the world have approached Infor looking for a modern alternative to the legacy options available for mission critical business applications."
Infor has built its cloud strategy atop Amazon Web Services, which the vendor says enables it to offer a broad set of applications for industries including health care, retail and manufacturing, in addition to financial services. It has 66 million users of its cloud applications, it said in the press release.
The transaction is subject to regulatory approval and is expected to close in early 2017.
Infor's shareholders, which include Golden Gate Capital, Summit Partners and management, would maintain control of the company, but Koch would have the right to appoint four of the nine directors on Infor's board.
