FRANKFURT (Reuters) – Business software maker Infor, a privately held company with more than $2 billion in annual sales, does not expect to go public before 2009, Euro am Sonntag reported in an interview with its chief executive.
“We are pulling out all the stops to get ready for the capital markets, but we still want to optimise some internal processes,” Jim Schaper told the German Sunday business newspaper in comments released on Friday.
Infor, which is owned by Golden Gate Private Equity, should have finished these improvements by the end of the year, Schaper told the newspaper, but he added that the marketplace was difficult at the moment.
No final decision had yet been taken regarding an IPO, Schaper said.
Infor had sales of almost $2.3 billion last fiscal year, with organic sales growth in a mid-single-digit percentage range and a profit margin before interest, tax, depreciation and amortisation of 28 to 29 percent, Schaper said.
The company competes with bigger rivals SAP (SAPG.DE: Quote, Profile, Research, Stock Buzz) and Oracle (ORCL.O: Quote, Profile, Research, Stock Buzz) in the market for software that helps large enterprises manage operations including customer relations, performance and finances. It has 70,000 customers.
(Reporting by Georgina Prodhan; Editing by Brian Moss)