Infor Inc., one of the country's largest enterprise software companies, is set to purchase GT Nexus, the privately-owned cloud supply chain platform based in Oakland, Calif.
The deal is valued at $675 million and is expected to be completed by October, Bloomberg reports.
"This is postmodern ERP software---instead of being for one company it's for multiple companies," Infor Chief Executive Officer Phillips said in an interview, according to the site.
"We go in where there's fatigue and shelfware. It's a big market."
Phillips, who previously worked for global computer technology corporation Oracle, is reported to have made the purchase with the intent of competing against his former employer. The new acquisition will allow Infor to take advantage of GT Nexus' software management for companies among the ranks of Procter & Gamble, Nike and Home Depot.
Infor's corporate leader also revealed that the company made $2.8 billion in sales and about $800 million in earnings before interest and taxes within the last year.
The $675 million deal is awaiting regulatory approval.
"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 has it cleared customs," Phillips also said, according to Fortune.
Infor was founded in 2002 and is headquartered in New York City.
