NEWS
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NEWS
Infor acquires GT Nexus to beef up its cloud platform
Business software provider Infor Inc. has swooped to acquire cloud-agnostic manufacturing software maker GT Nexus in a $675 million deal. Based in Oakland, California, GT Nexus is a provider of cloud-based trade and logistics software that deals with the logistics of production and shipping.
Infor said the deal, which will be the largest in its history, will close within 45 days, Bloomberg reported.
Speaking to Bloomberg, Infor CEO Charles Phillips said the deal will allow Infor to better compete with legacy giants like Oracle and SAP SE by giving its customers a cloud-based alternative to the elaborate on-premise business management systems they provide.
GT Nexus counts over 25,000 business customers, who use the platform to manage the distribution of over $100 billion worth of goods each year. These include heavyweight retailers like Adidas AG, Home Depot Inc., Nike Inc., and Procter & Gamble Co.
“This is postmodern ERP software – instead of being for one company it’s for multiple companies,” Phillips told Bloomberg. “We go in where there’s fatigue and shelfware, it’s a big market.”
GT Nexus’ supply-chain management software is primarily used by fashion, manufacturing and retail firms, and allows them collaborate with their suppliers and organize shipments to customers, distribution centers and retailers. The company was founded in 1998, and its software is designed to integrate with customer’s order-management systems. Orders and payments can then be transmitted to suppliers, financial providers and logistics firms.
By incorporating GT Nexus’ software into its own suite, Infor will be able to offer its customers a global commerce cloud that provides “end to end” control and visibility over the production of goods, the company said. As such, the acquisition should give Infor considerable leverage to compete in the cloud against rivals Oracle and SAP.
The deal comes as Infor appears to be edging closer to its Initial Public Offering (IPO). Just last month, Infor hired the services of Jeff Laborde, a former Goldman Sachs executive, as its Chief Financial Officer. Although he didn’t admit an IPO is the company’s intention, CEO Phillips hinted as much, saying Laborde is “the perfect fit to help guide Infor through this next phase in the evolution of the company”.
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