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Infor buys Extensity, Systems Union
Infor a penny, in for $2.1bn in revenues
Extensity, the venture capitalist-owned business software vendor formerly known as Geac has been bought by Infor - another VC enterprise. Extensity itself bought UK firm Systems Union only this April.
On paper the nascent group has revenues of $2.1bn, trailing only Oracle and SAP. Industry watchers have been surprised at a company swelling to such a size purely in the hands of VCs.
The Extensity deal was done with a mixture of cash and loans. A $150m revolving credit facility was backed with a $2.25bn term loan and a $1.425bn senior subordinated bridge facility.
Infor CEO Jim Schaper said: "Companies can now choose fully integrated solutions for specific industries as well as best-in-class standalone solutions from one provider."
With presence in 100 countries, the three companies have significant overlap in their products and midsize markets, so some consolidation can be expected.®
Biting the hand that feeds IT
