Koch Equity Development, the investment arm of Wichita, Kan.-based Koch Industries, has made its largest investment to date — which also marks its biggest push into the technology sector, according to Reuters.
On Wednesday, Koch Equity Development said it had purchased a more than $2 billion stake in Infor, a New York City-based enterprise software provider. Koch Equity Development — which already owns brands like Brawny, Dixie Cups and Lycra — plans to be an active investor; the company will receive four out of Infor's nine board seats.
The deal is slated to close in early 2017. Infor plans to use this funding on acquisitions and a commitment to software subscriptions delivered via cloud, according to Reuters.