Enterprise software firm Infor Inc. has agreed to acquire supply chain management software vendor GT Nexus Inc. for $675 million, a deal the company claim will strengthen and broaden the capabilities of its ERP software portfolio.
New York-based Infor is one of the world's largest suppliers of enterprise resource planning (ERP) software. Its software helps companies including aerospace, technology and pharmaceutical companies to track various components of their business.
Infor said the deal would strengthen its software portfolio and broaden its market reach. The deal, according to Infor's statement, is expected to complete within 45 days.
Charles Philips, chief executive of Infor, said in a statement: “Together, Infor and GT Nexus will provide customers with unprecedented visibility into their supply chains to manage production and monitor goods in transit and at rest”, and also added: “In a complex, high velocity supply chain, all partners need to know what was ordered, when it was built, where it is in transit, if the order has changed, and has it cleared customs. Specialization and speed are moving the future of manufacturing into the commerce cloud.”
Sean Feeney, chief executive of GT Nexus, said in a statement: “Infor is a great home for GT Nexus, and we’re excited to join forces with a company with a strong manufacturing, retail, and supply chain pedigree.”
Based in Oakland, California, GT Nexus is the world's largest cloud-based global commerce platform. It provides a global order management system that coordinates commerce across partners. The company facilitates more than $20 billion in payments between buyers and their sellers across 90 countries and in eight currencies. Customers include some of the biggest names in the industry- Adidas AG, Caterpillar, DHL, Pfizer and many more.
Founded in 2002 and based in New York, Infor is a privately held company that specializes in enterprise software solutions ranging from financial systems and ERP to supply chain and customer relationship management software. The company's primary shareholder is the private equity firm Golden Gate Capital Partners. Infor has 70,000+ customers and more than 12,400 employees. It supports customers with 3,500 product specialists in 194 countries. it also has 1,400 technology and services partners, offering support and training in 20 languages.
Credit Suisse Group and Bank of America Merrill Lynch advised Infor on the deal, while New York-based Morgan Stanley advised GT Nexus.
Infor has been eyeing a potential IPO for several years, and last month hired Goldman Sachs veteran Jeff Laborde, as its chief financial officer.
Image Credit: Franchise Herald
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