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ATLANTA - Apr 05, 2012
Infor today announced an equity investment from Golden Gate Capital and Summit Partners and the successful refinancing of the company's debt capital structure. The transaction completes the combination of Infor and Lawson Software - solidifying Infor's position as the world's third-largest enterprise software company.
Combined with the recent equity investment in Lawson, more than $1 billion of new equity has been invested in Infor in the past year. Additionally, Infor refinanced its debt capital structure, reducing total debt by more than $600 million and extending debt financing with an average maturity date of 2018.
Infor now generates $2.8 billion in annual revenue and profit margins of more than 28 percent. The company's scale, growth trajectory and leadership position allow for accelerated innovation and increased value for its customers.
"The new financing and finalized business combination represent a strategic milestone that sets Infor on a clear path of long-term growth and sustained financial strength," said Charles Phillips, CEO of Infor. "The stellar performance and dedication of thousands of Infor employees have allowed the company to realize this important objective."
In the past year, Infor added more than 600 new developers dedicated to delivering deep industry-specific processes. Few other companies have hired this magnitude of engineering talent focused on applications at such a rapid pace.
The innovation and focus have translated into tangible results for Infor: the company grew license revenue more than 15 percent over the past five quarters, expanded margins and added more than 2,000 new customers.
The accelerated growth was driven by a surge in shipment of new products and enhancements. In the past year, Infor launched Infor10 and shipped more than 100 new products, 3,000 new features and 2,000 customer enhancements, all up more than double the rate from the prior year. New products also helped drive higher support renewal rates and attract another 500 customers to return to support. Additionally more than 125 new resellers joined the Infor Partner Network.
Infor is the world's third-largest global supplier of enterprise applications and services to large and mid-size companies across numerous industry sectors. It provides software and services that help more than 70,000 customers in 164 countries improve operations and drive growth. To learn more about Infor, please visit www.infor.com.
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