New Delhi: IT firm Infor Wednesday announced an agreement to seek $1.5 billion investment from existing shareholders Koch Equity Development, LLC (KED) and Golden Gate Capital.

This investment builds on KED’s investment of more than $2 billion in early 2017, and it represents an important milestone as Infor considers a potential IPO in 2019 or 2020, subject to market conditions, the company said in a statement.

“Koch and Golden Gate Capital have been phenomenal partners for Infor, and all of our 17,300 employees are excited about this milestone as we prepare for the next stage of growth," Infor CEO Charles Phillips said.

Infor has invested approximately $2.5 billion in product design and development over the last five years and delivered more than 475 new products, 1,870 integrations, and 20,700 industry features in its CloudSuite product line.

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