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Age : 60
Public asset : 3,306 USD
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Biography : Mr. David K. Koch is Chief Operating Officer at Boomerang Systems, Inc.

Koch to Invest $2 Billion in Business-Software Provider Infor

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11/16/2016 | 04:15pm CEST

Koch Industries Inc. agreed to invest more than $2 billion in business software provider Infor Inc. to help bolster cloud capabilities.

New York-based Infor is a supplier of enterprise resource planning, software that helps companies track the various components of their businesses. Infor's cloud strategy uses Amazon Web Services, which allows it to invest in deep industry functionality instead of maintaining its own data-center infrastructure.

"Some of the largest companies in the world have approached Infor looking for a modern alternative" to legacy software options, said Infor Chief Exectutive Charles Phillips.

The Koch transaction is expected to close in early 2017. Koch Industries, a conglomerate owned and run by billionaire brothers Charles and David Koch, is one of the largest private companies in the world.

Cloud-based providers of supply-chain management systems are growing faster than their more established counterparts in an expanding market, according to Chad Eschinger, analyst at research firm Gartner Inc. Sales of supply-chain management software overall grew 11% to $11.1 billion in 2015, on a constant-currency basis, and is forecast to grow to $17.6 billion by 2020, he said.

In June Infor agreed to acquire Predictix LLC and merge the company's consumer-demand forecasting technology into its own supply-chain management systems for retailers. The moves come amid growing interest in cloud-based services, or software hosted on remote servers, which allow companies to better manage inventory and orders and to enable communication between different parts of supply chains.

Write to Anne Steele at [email protected]

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