Infor, which specializes in cloud solutions for manufacturing companies, announced the signing of an agreement to sell its international EAM business (Enterprise Asset Management). The buyer is the Swedish company Hexagon AB, which calls itself “a leader in digital reality solutions.” The deal is worth approximately $ 2.75 billion. It includes $ 800 million in cash, as well as securities and “strategic engagement” companies to serve common customers.
The mentioned “strategic interaction implies the formation of two subsidiaries of Koch Industries: Infor and Koch Equity Development. As a result of the deal, the Koch group will also acquire an ownership interest in Hexagon, and Hexagon’s main shareholder, MSAB, intends to nominate Brett Watson, president of Koch Equity Development, to include Hexagon’s board of directors shortly after the deal.
The sale of the EAM business and the strategic agreement with Hexagon is expected to enable Infor to integrate the capabilities of one of the market-leading EAM solutions with Hexagon’s digital reality capabilities. In particular, we are talking about technologies and specialized software products for automatic control systems. In addition, Infor expects to focus after the acquisition on a strategy to improve industry-specific cloud ERP solutions (CloudSuites) that “provide customers with long-term operational benefits and planning capabilities.”
In addition to the agreement to sell the EAM business, the Koch group and Hexagon signed a letter of intent to further expand the use of Infor EAM and Hexagon solutions within the consortium, as several Koch companies are regular users of Infor EAM and Hexagon solutions for enterprise optimization and industrial operations. objects.
As usual, the deal still needs to be approved by the regulators.
It remains to add that the EAM division of Infor has about 500 people worldwide. Upon completion of the deal, it will become part of Hexagon’s Industry-Specific Enterprise Solutions business.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
