IFS, the cloud and industry AI software company, announced it has entered into a definitive agreement to buy Copperleaf Technologies. An advanced provider of AI-powered enterprise Asset Investment Planning and Management (“AIPM”) software, Copperleaf offers compelling capabilities that add further depth to IFS’s position as the foremost global Enterprise Application Software provider for Asset—and service-centric industries.
The transaction’s completion is subject to customary conditions, including court approval, Copperleaf shareholders’ approval, and regulatory approval under the Canadian Competition Act. It is anticipated that the acquisition of Copperleaf will be completed in the third quarter of 2024.
Darren Roos, Chair of IFS, noted, “The combination of Copperleaf and IFS creates significant value for our complex, asset-intensive customers, as well as partners, investors, and employees.”
Amos Michelson, outgoing Chair of Copperleaf, commented, “The acquisition is a recognition of the investments and hard work that have made Copperleaf successful. I am confident that the company’s future as part of IFS will bring opportunities and growth for all.”
Both IFS and Copperleaf combined can one offer organisations a large breadth and depth of software capabilities. The clients will now 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.
Copperleaf’s software manages over two trillion dollars of physical and digital assets worldwide, providing data and insights to help customers optimise investment decisions.
Mark Moffat, CEO of IFS, stated, “IFS continues to strengthen its position as the global software leader for Asset and Service management, powered by Industrial AI. I am thrilled about the addition of Copperleaf to our customer offering. Both companies share principles of world-class innovative technology, exceptional ROI, and a customer-centric culture.”
It is trusted by some of the largest and most respected organisations in the electricity, natural gas, water, energy, pharmaceutical, and transportation industries, including ONE Gas, Manitoba Hydro, and National Grid.
Paul Sakrzewski, CEO of Copperleaf, added, “I am incredibly proud of the work Copperleaf has done to create the business we have today. Our market-leading solution is used by many of the largest and best-run asset owners in the world. Joining IFS will enable us to accelerate our growth and offer customers even greater capabilities, thanks to our shared values and commitment to advanced and impactful software.”
