Infor has agreed to sell its EAM (Enterprise Asset Management) business to Hexagon AB, a global leader in digital reality solutions, for $2.75 billion in a combination of cash and stock.
Koch Industries, the parent of Infor, will also have an ownership stake in Hexagon.
Infor will focus on its strategy of delivering industry-specific cloud ERP (Enterprise Resource Planning) suites (CloudSuites) that provide customers with sustained operational advantage and to maintain a long-term view of the market.
Ola Rollen, Hexagon President and CEO, said, “By integrating Infor EAM’s asset management capabilities with our digital reality solutions and platforms, we can improve capital asset performance in ways beyond what EAM can achieve standalone.”
Infor’s EAM business and its approximately 500 employees located around the globe will operate as part of Hexagon’s Industrial Enterprise Solutions segment. It will serve Hexagon businesses focused on asset-intensive ecosystems such as manufacturing, industrial facilities, mines, farms, autonomous mobility, buildings, infrastructure, cities & nations, and defense.