Koch Equity Development (KED) and Golden Gate Capital have invested  $1.5 billion in cloud ERP provider Infor, ahead of a potential IPO later this year.

The capital builds on KED’s investment of more than $2 billion in early 2017, and represents an important milestone as Infor considers a potential IPO in 2019 or 2020, subject to market conditions.

“Koch and Golden Gate Capital have been phenomenal partners for Infor, and all of our 17,300 employees are excited about this milestone as we prepare for the next stage of growth,” said Charles Phillips, CEO of Infor.

With over $3 billion of revenue in fiscal year 2018, Infor helps businesses move mission critical ERP application suites to public clouds.

Infor CloudSuite is now a fully multi-tenant ERP suite spanning front and back office applications, as well as logistics with global support in terms of languages, currencies, and localisations. Its software is used in industries including healthcare, manufacturing, retail, the public sector and hospitality.

“Companies see the value in shifting their enterprise applications to the cloud but can’t make that transition until critical industry features are replicated there. Infor built these previously bespoke features as standard cloud services and now has access to valuable data across business functions to build predictive analytics and insightful correlations on our Coleman AI platform,” said Phillips.

Infor has more than 17,300 employees and over 68,000 customers across 170 countries.

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