Infor’s New Competitor Just Bought a Mule
- Salesforce is acquiring Mulesoft for $6.5 billion
- Infor had $778 million in Q3 revenue
Salesforce (CRM -4.34%) is throwing its first salvo beyond its customer relationship management business with it’s pending $6.5 billion acquisition of Mulesoft (MULE -0.73%). The company will be going head-to-head with giants like Oracle (ORCL -2.37%), SAP (SAP -1.72%), and Charles Phillips-led Infor. What will Infor need to do to prevent a crowded market from overshadowing it?
Why This Matters: Salesforce became the fastest software company in history to reach $10 billion in revenue, a feat it accomplished in 2017. The company’s new goal is to reach $20 billion by 2024. Contrast that with Infor’s $2.8 billion revenue in 2017, and you see the hill the company has to climb.
In 2017, Infor took on a $2.5 billion investment from Koch Equity Development to fund the company’s growth and pay off early investors. In years prior, rumors swirled around whether the company would go public. The consensus has been that the company needs to increase its revenue figures before it becomes an attractive IPO target.
To increase revenue the company has made a commitment to growing its international business. “I am increasingly confident in our international business. While Europe and Asia were slow to embrace SaaS solutions things have changed and we are now seeing significant demand in both regions,” said Phillips.
What’s Next: Look out for display ads from Infor as you browse the web. The company hired Ashley Hart as its new chief marketing officer. She brings a digital marketing background to the company as it makes its push to increase brand awareness to help grow the company’s bottom line.
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