Developer of solutions for business applications, Infor said it has completed the acquisition of GT Nexus, the world's largest cloud-based global commerce platform, which was valued at $675 million.
GT Nexus and Infor's offerings are highly complementary and the acquisition will enable Infor to create the first global commerce cloud providing end-to-end visibility and control across physical and financial supply chains.Developer of solutions for business applications, Infor said it has completed the acquisition of GT Nexus, the world's largest cloud-based global#
“The acquisition of GT Nexus enables Infor to create the first global commerce cloud for the production of the products that companies make and deliver to their respective markets,” an Infor press release stated.
Deployed as a single, multi-tenant technology stack, the GT Nexus platform is built for scale and broad adoption, enabling companies and their partners to quickly connect as collaborating networks, on a many-to-many model.
The GT Nexus network integrates directly with the order management system of brand owners and transmits order information to their suppliers, freight carriers, and logistics providers.
GT Nexus becomes the order management system for the network by managing the master record of the order across multiple partners.
GT Nexus transmits an order and subsequent changes from the brand owners to the contractor and also schedules freight carriers, generates customs documents, and transmits shipments down to sensors on the container aboard ship.
GT Nexus is used in 66 countries, with 30 financial institutions managing more than $100 billion in goods each year in the GT Nexus cloud.
"Together, Infor and GT Nexus will provide customers with unprecedented visibility into their supply chains to manage production and monitor goods in transit and at rest,” CEO at Infor Charles Phillips too said
“In a complex, high velocity supply chain, all partners need to know what was ordered, when it was built, where it is in transit, if the order has changed, and if it has cleared customs,” he added.
Credit Suisse and Bank of America Merrill Lynch served as financial advisors to Infor for the transaction, while Gibson, Dunn & Crutcher LLP and Kirkland & Ellis LLP served as Infor's outside legal counsel.
GT Nexus was advised by Morgan Stanley; Wilson Sonsini, Goodrich & Rosati; Cleary Gottlieb Steen & Hamilton LLP and KPMG on the transaction. (AR)
Fibre2Fashion News Desk – India
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
