Expanding customer value through Copperleaf’s Advanced Decision Analytics Software for Asset-Intensive Industries and IFS’s Leadership in Enterprise Asset Management.
IFS has entered into a definitive agreement to buy Copperleaf Technologies Inc. The combination of Copperleaf and IFS is highly complementary, offering organizations an unparalleled breadth and depth of software capabilities. Customers will have access to advanced Industrial AI-powered software to manage every element of the assets that are so crucial to their business – across their lifecycle – in order to drive efficiency and effectiveness in their operations.
Mark Moffat, CEO, IFS, commented, “IFS continues to build on its position as the global software leader for Asset and Service management, powered by Industrial AI. I am deeply excited about what Copperleaf brings to our extended customer offering. We combine two companies built on the same principles: world class innovative technology with unrivalled time to value, asset and industry expertise delivering exceptional ROI, and organizational cultures that have always put the customer at the center of everything they do.”
Paul Sakrzewski, CEO, Copperleaf added, “I am incredibly proud of the work Copperleaf has done to establish and create the business we have today. Our market-leading solution is now utilized by many of the largest and best run asset owners in the world. Our next phase of growth as part of IFS will enable us to accelerate even faster, and offer customers even greater capabilities, thanks to shared values and a commitment to delivering the most advanced and commercially impactful software asset-owners could need.”
The acquisition is recognition of the investments, and many years of hard work, that have been put into making the business the success it is today. I am confident that the company’s future as part of IFS will offer opportunity and growth for all. Completion of the transaction is subject to customary conditions, including court approval, approval of the Copperleaf shareholders and regulatory approval under the Canadian Competition Act. Subject to the satisfaction of these and the other conditions to closing set out in the arrangement agreement, it is anticipated that the acquisition of Copperleaf will be completed in the third quarter of 2024.
