Private equity firm Koch Equity Development has completed its US$2bn investment in business software supplier Infor.

The deal was originally announced in November last year. It will see the investment and acquisition subsidiary of Koch Industries – the second largest privately-held company in the US with annual revenue of around $100bn – take a "significant" stake in Infor, which provides tools for a range of industries including fashion.

The capital injection will enable Infor to continue spending on acquisitions, expanding distribution and on shifting its business model to software subscriptions delivered over the cloud, which offers a modern alternative to legacy options for key business applications.

"The investment is strong validation of Infor's strategy and growth – a journey fuelled by product investment, innovation, and an entrepreneurial culture – and provides Infor access to additional capital to accelerate innovation, expand distribution, and continue disrupting the enterprise applications industry," Infor said.

Recent deals have seen the company buy Predictix, a cloud-based predictive and prescriptive analytics solution for retailers, as well as retail software developer Starmount, in a move to help accelerate delivery of the Infor CloudSuite Retail applications. And last year it acquired the GT Nexus global commerce platform for US$675m.

In July the company also unveiled its latest Fashion Product Lifecycle Management (PLM) tool, designed to help retail companies with faster innovation, quicker response times and more informed decision-making.

Infor unveils latest iteration of Fashion PLM