January 16, 2019 / 1:18 PM / a year ago

Infor gets $1.5 billion more in funding ahead of planned IPO

(Reuters) - Cloud technology company Infor Inc said on Wednesday it received an investment of $1.5 billion from shareholders Koch Equity Development LLC and private equity firm Golden Gate Capital.

The funding builds on Koch Equity’s investment of more than $2 billion in early 2017. Infor said it is considering a potential IPO in 2019 or 2020, subject to market conditions.

New York-based Infor helps firms automate businesses by offering specialized software licenses to specific sectors as opposed to selling a product to its customers across industries.

Infor said it had revenue of $3 billion in fiscal year 2018.

Reporting by Akanksha Rana in Bengaluru; Editing by Arun Koyyur

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