CEO Charles Phillips talked this morning on CNBC's "Squawk Alley" about the impact of cloud on Wall Street, and how Infor specializes in high-growth cloud applications - not infrastructure and hardware, which is a shrinking market.
"Companies don't buy databases and servers anymore. The cloud provider has that now," Phillips said. "The mid-market is ready for the cloud. Our cloud bookings are up 300% the past 12 months.
"European companies are moving to the cloud more slowly because they want the data in-country. That's why we partner with Amazon; they have data centers all over Europe. I didn't want to build those; I couldn't build them fast enough."
Regarding security concerns, Phillips said: "I was at a three-letter intelligence agency earlier this week; they are moving to the cloud with us. I never would have thought that could happen three years ago, so if they do it as an intelligence agency, any small company can. The security issue is behind us now."