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Infor Accelerates Strategy – Increases Global Market Share with New Acquisitions - Extensity, Systems Union and SSA Global acquisitions broaden offering; Annual revenues reach US$2.1 Billion
Infor Accelerates Strategy – Increases Global Market Share with New Acquisitions

 

NewswireToday - /newswire/ - Singapore, Singapore, 2006/08/08 - Extensity, Systems Union and SSA Global acquisitions broaden offering; Annual revenues reach US$2.1 Billion .

   
 
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Infor, one of the largest global providers of enterprise software and a portfolio company of Golden Gate Capital, today announced it has accelerated its strategy of offering customers a choice of integrated enterprise software solutions and standalone best-in-class solutions, by closing three acquisitions which extend its global scale and broaden its offerings for new markets and new territories. In addition to closing the previously announced acquisition of SSA Global on July 28, 2006, Infor has acquired Extensity, a leading financial performance management software company, and Systems Union Group, a UK-based provider of financial and performance management solutions including budgeting, reporting, business intelligence and a comprehensive suite of financial applications.

Infor, the fastest growing enterprise software company in the world, now has annual revenues totaling US$2.1 billion, offices in 100 countries and approximately 70,000 customers -- more than Infor's two largest competitors combined in its target markets. In addition, the company has the largest number of customers in the fastest growing segment of the market: mid-size companies.

"We are broadening our offering to include solutions that will enable our customers to improve performance throughout the organisation," said Jim Schaper, chairman and CEO of Infor. "Companies can now choose fully integrated solutions for specific industries as well as best-in-class standalone solutions from one provider."

Infor's acquisition strategy benefits customers by extending the life of an enterprise's technology investment, integrating highly complementary product sets and providing rich vertical market experience. Infor enriches and extends its customers' current solutions, while providing a path to new technologies.

"This synergy will ensure that we consistently deliver an effective combination of product and services to our customers. We plan to build on this success through the coming year with more comprehensive product features and services to give our customers the world's most advanced enterprise solution," said JeeMeng Chan, Vice President of Marketing, Infor Asia Pacific.

Extensity and Systems Union products will be delivered as part of Infor's expanding group of best-in-class solutions such as enterprise asset management, customer relationship management, and supply chain planning and execution. With industry leading solutions, Infor continues to provide customers with expanded choices from a single vendor with scale and stability.

The two-stage transaction was financed through a combination of cash on balance sheet and committed debt financing. The aggregate facilities are comprised of a US$150 million revolving credit facility, $2.25 billion term loan facility, and a $1.425 billion senior subordinated bridge facility. The facilities are denominated in both US dollars and Euros. J.P. Morgan Securities ("JPMorgan"), Credit Suisse Securities (USA) LLC ("Credit Suisse"), Merrill Lynch Co. and Merrill Lynch, Pierce, Fenner & Smith Incorporated (collectively "Merrill Lynch" ) acted as Joint Bookrunners and Co-lead Arrangers for the first stage, and JPMorgan, Merrill Lynch and Credit Suisse acted as Joint Bookrunners and Co-lead Arrangers for the second stage. Goldman Sachs Credit Partners L.P., Wells Fargo Foothill, General Electric Capital Corporation and Barclays Bank PLC acted as Co-Documentation Agents for the first stage senior secured credit facilities, and Goldman Sachs Credit Partners L.P., General Electric Capital Corporation, Wells Fargo Foothill, Inc. and Barclays Bank PLC acted as Co-Documentation Agents for the second stage senior secured credit facilities. Goldman Sachs Credit Partners L.P., General Electric Capital Corporation and Barclays Bank PLC acted as Co-Documentation Agents for both the first and second stage senior subordinated bridge facilities.

Kirkland & Ellis LLP acted as legal advisor to Infor and Golden Gate Capital. Credit Suisse Securities (USA) LLC acted as financial advisor to Infor with respect to its acquisition of SSA. Close Brothers, JPMorgan, and Merrill Lynch acted as financial advisors to Extensity with respect to its acquisition of Systems Union; Close Brothers role included acting as financial advisor in relation to the UK public offer for Systems Union. Credit Suisse Securities (USA) LLC and Merrill Lynch acted as financial advisors to Infor with respect to its merger with Extensity.

About Infor

Infor (info.com) delivers fully integrated enterprise solutions for specific industries, as well as best-in-class standalone products that address the essential challenges its customers face in areas such as enterprise resource planning, supply chain planning and execution, customer and supplier relationship management, asset management, product lifecycle management, and business intelligence. With more than 8,100 employees and offices in 100 countries, Infor provides enterprise solutions to more than 70,000 customers.

About Golden Gate Capital

Golden Gate Capital is a San Francisco-based private equity investment firm with US$2.8 billion of capital under management. Golden Gate Capital is dedicated to partnering with world-class management teams to invest in change-intensive, growth businesses. Golden Gate targets investments in situations where there is a demonstrable opportunity to significantly enhance a company's value. The principals of Golden Gate Capital have a long and successful history of investing with management partners across a wide range of industries and transaction types.

 
 
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Infor Accelerates Strategy – Increases Global Market Share with New Acquisitions

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