June 23, 2017 7:26 AM ET

Software

Company Overview of Infor (US), Inc.

Company Overview

Infor (US), Inc. develops, markets, distributes, and services enterprise software applications that help organizations manage their businesses. The company operates through three segments: License, Maintenance, and Consulting. It delivers integrated enterprise business solutions, such as customer relationship management, enterprise asset management, enterprise resource planning (ERP), financial management, human capital management, performance management, product lifecycle management, property management systems, central reservations systems, supplier relationship management, and supply chain management, including business-specific inventory management, transportation logistics, manufacturin...

641 Avenue of the Americas

New York, NY 10011

United States

Founded in 1975

Phone:

646-336-1700

Key Executives for Infor (US), Inc.

Chief Executive Officer, Director and Chief Executive Officer of Infor Inc
Age: 56
Chief Financial Officer
Age: 42
President of GT Nexus
Senior Vice President of Product Development
Age: 64
Chief Accounting Officer, Senior Vice President and Controller
Compensation as of Fiscal Year 2016.

Infor (US), Inc. Key Developments

Infor, Inc. and Infor (US), Inc. Entered into Amendment to the Credit Agreement

On February 6, 2017, Infor, Inc., and Infor (US), Inc. entered into Amendment No. 8 (the “Amendment”) to the Credit Agreement dated as of April 5, 2012 (as amended from time to time prior to the effectiveness of the Amendment) (the “Credit Agreement”), with Bank of America, N.A., as administrative agent, Bank of America, N.A., as Additional Refinancing Lender (as defined in the Amendment), the other Additional Refinancing Lenders thereto, and the Amendment No. 8 Extending Term Lenders (as defined in the Amendment). The Amendment provides for, among other modifications to the Credit Agreement as set forth therein, the refinancing of all of the Company’s Tranche B-3 Term Loans, Tranche B-5 Term Loans and Euro Tranche B Term Loans with new term loans having an aggregate principal amount of $2,147,070,571.52 (the “Tranche B-6 Term Loans”) and €1,000,000,000 (the “Euro Tranche B-1 Term Loans”). Interest on the Tranche B-6 Term Loans is based, at the Company’s option, on (a) a LIBOR rate plus a margin of 2.75% per annum, with a LIBOR floor of 1.00%, or (b) an alternate base rate plus a 1.75% margin. Interest on the Euro Tranche B-1 Term Loans is based on a LIBOR rate plus a margin of 2.75%. The Tranche B-6 Term Loans and the Euro Tranche B-1 Term Loans each mature on February 1, 2022. Pursuant to the terms of the Amendment, the Tranche B-6 Term Loans and the Euro Tranche B-1 Term Loans are each guaranteed by the Company and certain of the Company’s domestic subsidiaries, and are secured by liens on substantially all of the assets of the Company and the other guarantors. The Company and its restricted subsidiaries are subject to certain other affirmative and negative covenants as set forth in the Amendment and the Credit Agreement. The Amendment also makes certain additional changes to the Credit Agreement including, without limitation, (A) increasing the prepayment of Excess Cash Flow (as defined in the Credit Agreement) to 75% when the Total Leverage Ratio (as defined in the Credit Agreement) over the applicable period is at least 6.00 to 1.00, (B) revising the definition of “Permitted Holders” to include Koch Industries, Inc. and certain of its affiliates upon the consummation of the sale of the Equity Interests (as defined in the Credit Agreement) of GGC Software Parent, Inc. to Koch Equity Development LLC or one or more of its Affiliates (as defined in the Credit Agreement), as contemplated by the Securities Purchase Agreement dated November 16, 2016, and (c) revisions to the Restricted Payments (as defined in the Credit Agreement) contingent to (i) permit the Company to pay dividends with respect to the declaration of cash interest with respect to the Holdco Notes (as defined in the Credit Agreement) and any accrued interest or premium thereon or any securities issued as a replacement therefor, (ii) permit the Company to pay dividends or distributions for the repayment, repurchase, redemption, defeasance, or otherwise acquire or retire for value of all or any portion of the Holdco Notes or any securities issued as a replacement therefor, together with accrued and unpaid interest or premium thereon to the redemption date thereof, plus any fees, underwriting discounts, accrued and unpaid interest, premiums and other costs and expenses, subject to pro forma Total Leverage Ratio of less than or equal to 6.75:1.00 and (iii) add a general basket for Restricted Payments equal to (a) the greater of $150.0 million and 2.50% of total assets, so long as such amount would not cause the Total Leverage Ratio to be greater than 4.75 to 1.00 after giving effect to such payment. However, the initial usage of any basket referred to in clauses (i), (ii) and (iii) of this paragraph are subject to the consent of the applicable required revolving lenders.

Infor Puts Itself On The Block

Infor (US), Inc. reportedly is looking for buyout firms to acquire a stake in it. Morgan Stanley (NYSE:MS) is working with Infor in the sale. Infor could be valued at more than $9 billion including debt. Golden Gate Capital and Summit Partners LLP may choose to pursue a debt investment or other ways to bring on additional investors besides a sale of a minority equity stake.

Infor, Inc. and Infor (US), Inc. Announces Management Changes

On July 12, 2016, Infor, Inc. announced that it has appointed Kevin Samuelson as chief financial officer of the company and Infor (US), Inc. effective July 12, 2016. Mr. Samuelson succeeds Jeffrey Laborde, who ceased serving as chief financial officer of the company effective July 12, 2016. Mr. Laborde will assist with the transition to Mr. Samuelson. Mr. Samuelson rejoins the company after serving as chief financial officer from October 2011 to February 2013. Prior to serving in that role, Mr. Samuelson held various positions at Infor and its predecessors, including senior vice president of acquisitions and integrations. After leaving Infor in 2013, Mr. Samuelson served as chief operating officer of Backcountry.com until April 2014, and then as chief financial officer at Insidesales.com from April 2014 until his return to Infor. Prior to joining Infor in 2002, Mr. Samuelson was an investment professional at Parallax Capital Partners, where he worked on technology buyouts. Mr. Samuelson also worked in the Equity Research division of Robertson Stephens.

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