IFS AB

This article is about the enterprise software company. For the UK economics think tank, see Institute for Fiscal Studies.
IFS AB
IFS
Company typePrivate
IndustryEnterprise software
Founded1983
Headquarters
Linköping
,
Sweden
Area served
Worldwide
Key people
Mark Moffat (CEO)
ProductsEnterprise resource planning (ERP); enterprise asset management (EAM); field service management (FSM); enterprise service management
Revenue€1.228 billion (2024)
OwnersEQT; Hg; TA Associates (minority), with additional minority investors reported in 2025
Number of employees
7,000+ (2024)
Websitewww.ifs.com

IFS (originally Industrial and Financial Systems) is a Swedish enterprise software company headquartered in Linköping. The company develops cloud-based business software focused on asset- and service-intensive industries, including enterprise resource planning (ERP), enterprise asset management (EAM), and field service management (FSM).[1][2]

History

Founding and early years

IFS was founded in 1983 in Sweden and launched its first software product IFS Maintenance in 1985.[3] Five years later the complete product suite known as IFS Applications was launched.[4] In the next several years saw IFS expanding its presence in the Scandinavian region with the establishment of offices in Norway, Finland, Denmark and then expanding outside Scandinavia into Poland. 1993, saw IFS introduced its first graphical user interface and expanded to Malaysia. In 1995, it expanded to North America.

Expansions

In 1996, IFS was listed in the Swedish stock exchange and the product was made into a component based one. This was followed with the launch of its web client and its establishment of an RnD center in Colombo. In 2001, IFS introduced Java-based mobile clients and Internet portals. In 2004, NEC acquired a 7.7% of IFS share capital. By 2005, IFS Applications had more than 500,000 users. In 2008, IFS launched its new GUI and began several acquisitions.[5]

Private-equity ownership, valuation milestones and Investment by EQT

In 2015, IFS had reached more than one million global users and was acquired by EQT, a Swedish private equity group. IFS released its most recent ERP system, IFS Applications 10, in 2018 – the same year that Darren Roos was appointed as CEO,[6] followed by IFS Field Service Management 6 in 2019.[7][8]

In July 2020, the EQT VII fund sold IFS AB to the successor funds EQT VIII and EQT IX, and global growth private equity firm, TA Associates, which became a minority partner at a transaction value in excess of US$3 billion.[9] In March 2022, IFS announced that Hg, a leading software and services investor, would become a significant minority shareholder in IFS and WorkWave. Long-term investor EQT remains the majority shareholder, with Hg and TA Associates as significant minority shareholders. The transaction values IFS and WorkWave at $10 billion and sets both companies up to further grow their position as leading players in growing sectors.[10] In April 2024, EQT sold a $3 billion stake in IFS to Abu Dhabi Investment Authority and Canada Pension Plan.[11][12]

In March 2022, IFS stated that Hg did in fact join as a significant minority investor in a transaction valuing IFS and WorkWave at US$10 billion; EQT remained the majority shareholder and TA Associates a significant minority shareholder at that time.[13][14]

In April 2025, IFS launched Nexus Black, a strategic initiative focused on accelerating the adoption of Industrial AI across asset-intensive industries. The program is designed to co-develop AI-driven solutions with customers, targeting use cases such as predictive maintenance, intelligent scheduling, and autonomous decision-making.[15][16] Also in April 2025, IFS set a Guinness World Record for the longest static indoor billboard. The 304-foot-long installation at Chicago O’Hare International Airport was part of a global campaign to highlight the company’s focus on Industrial AI and the growing impact of its IFS.ai platform on its customers.[17] In December 2025, it was announced that IFS had entered into a definitive agreement to acquire Softeon, a developer of cloud-native warehouse management, execution and distributed order management software. The acquisition is intended to expand IFS’s industrial software portfolio into warehouse operations and is subject to regulatory approval, with completion expected in the first quarter of 2026.[18]

Operations

IFS is governed by the company’s Executive Management Team, providing leadership and direction from a global, operational perspective. Strategically, the company has a four region focus, led by members of the Executive Management Team. These focus areas are; Southern & Western Europe, Northern & Central Europe, Americas and APJME&A.

Products and platform

In March 2021, IFS launched IFS Cloud, which it presented as a single platform for its portfolio of enterprise applications.[19] IFS markets software spanning ERP, EAM and FSM, among other enterprise application categories, typically aimed at organisations managing complex assets and service operations.[20]

Financial performance

In its FY2024 results announcement (published January 2025), IFS reported total revenue of €1.228 billion for 2024 and annual recurring revenue exceeding €1 billion.[21] Major business press reporting on the 2025 investment round also described IFS as generating over €1.2 billion in revenue in 2024 and operating across more than 80 countries.[22][20]

Acquisitions

IFS has used acquisitions to expand its product portfolio, particularly in enterprise asset management and adjacent industrial software categories.

  • Ultimo – In July 2022, IFS announced an agreement to acquire Ultimo Software Solutions, a Netherlands-based provider of cloud EAM software.[23]
  • Poka – In June 2023, IFS announced an agreement to acquire Poka, a provider of a "connected worker" platform.[24]
  • Copperleaf Technologies – In June 2024, IFS announced a deal to acquire Copperleaf; IFS reported completion of the acquisition in August 2024, describing the transaction as a CAN$1 billion acquisition of Copperleaf Technologies Inc.[25][26]

Notable Partnerships

Cadillac Formula 1 Team (2026)

In January 2026, IFS announced a strategic partnership with the Cadillac Formula 1 Team, naming IFS as the team's official technology partner ahead of Cadillac's planned debut season in Formula 1 in 2026.[27][28]

Coverage of the partnership described IFS software being used in operational areas including finance, procurement, supply chain, production and quality management, with reports stating that the phased rollout began before Cadillac was granted formal entry to the sport.[29][30]

Team Sponsor of the Sri Lanka Cricket Team (2026)

Official Team Sponsor of the Sri Lanka National Cricket Team , for the ICC Men’s T20 World Cup 2026 (co-hosted by Sri Lanka and India)[31]

Chelsea F.C. (2026)

On 21 February 2026, IFS have agreed a deal with Premier League club Chelsea, to be their shirt's primary sponsor.[32]

Leadership

In January 2024, IFS announced the appointment of Mark Moffat as Chief Executive Officer, with Darren Roos becoming chair of the board.[33] Business press reporting on IFS in 2025 also identified Moffat as CEO.[22]

See also

References

  1. ^ "EQT sells €3bn stake in software group IFS defying chill in deals". Financial Times. April 2025.
  2. ^ "EQT Stake Sale Values Swedish Software Developer IFS at Over $16 Billion". The Wall Street Journal. April 2025.
  3. ^ "Småföretagarby: Studentkorridor var starten. I dag är IFS en av världens största leverantörer av administrativa rutiner". Dagens Nyheter (in Swedish). 19 October 1998. Retrieved 24 June 2022.
  4. ^ ""IFS Applications 9". www.ifsworld.com. Arkiverad från originalet den 1 juni 2015. Läst 1 juni 2015". Archived from the original on 1 June 2015. Retrieved 24 June 2022.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  5. ^ "Acquisition of 360 Scheduling". Archived from the original on 9 October 2015. Retrieved 27 July 2011.
  6. ^ "IFS Acquires 360 Scheduling". Retrieved 18 March 2019.[permanent dead link]
  7. ^ "EQT-owned IFS appoints Darren Roos as new CEO". Reuters. 5 March 2018. Retrieved 18 March 2019.
  8. ^ "ERP and MRO Management Software for the Aviation Industry". Retrieved 18 March 2019.
  9. ^ "EQT funds to acquire global enterprise software provider IFS and bring in TA Associates as minority partner". www.ifs.com. Archived from the original on 25 September 2020. Retrieved 8 September 2020.
  10. ^ "EQT Private Equity and TA to welcome Hg as a significant minority partner in IFS and WorkWave at a USD 10bn valuation". prnewswire.com (Press release). Retrieved 18 August 2022.
  11. ^ "IFS Hits €15 Billion Valuation Amid Surging Demand for Industrial AI". UAE-Business.com. 15 April 2025. Retrieved 7 August 2025.
  12. ^ "EQT sells €3bn stake in software group IFS defying chill in deals". Financial Times. 9 April 2024. Retrieved 7 August 2025.
  13. ^ "Hg joins EQT and TA Associates as investors in IFS and WorkWave". IFS. 30 March 2022.
  14. ^ "EQT Private Equity and TA to welcome Hg as a significant minority partner in IFS and WorkWave at a USD 10bn valuation". EQT Group. 30 March 2022.
  15. ^ "IFS launches Nexus Black". adsadvance.co.uk.
  16. ^ "Inside Nexus Black: IFS Launches a Fast-Track AI Lab for Industrial Innovation MARK VIGOROSO Mark Vigoroso, CEO, ERP Today SHARE THIS POST". erp.today.
  17. ^ "IFS sets Guinness World Records™ title for longest static indoor billboard". prnewswire.co.uk.
  18. ^ "Softeon to be acquired by IFS | DC Velocity". www.dcvelocity.com. Retrieved 7 January 2026.
  19. ^ "IFS launches IFS Cloud". IFS. 10 March 2021.
  20. ^ a b Cite error: The named reference WSJ-2025stake was invoked but never defined (see the help page).
  21. ^ "IFS announces outstanding 2024 financial results driven by increase in demand for Industrial AI". IFS. 23 January 2025.
  22. ^ a b Cite error: The named reference FT-2025stake was invoked but never defined (see the help page).
  23. ^ "IFS acquires Ultimo". IFS. 5 July 2022.
  24. ^ "IFS acquires Poka". IFS. 20 June 2023.
  25. ^ "IFS completes CAN$1 billion Copperleaf acquisition". IFS. 29 August 2024.
  26. ^ "IFS completes acquisition of Copperleaf". Copperleaf. 29 August 2024.
  27. ^ "Cadillac Formula 1 Team partners with IFS ahead of the team's debut season". IFS. 7 January 2026.
  28. ^ "Cadillac F1 announces official technology partner ahead of 2026 debut". Motorsport.com. 8 January 2026.
  29. ^ "Cadillac add tech sponsor as Formula 1 newcomers gear up for debut". City A.M. 7 January 2026.
  30. ^ "Cadillac target F1 budget cap through AI-focused deal with IFS". Blackbook Motorsport. 7 January 2026.
  31. ^ "IFS and Sri Lanka Cricket: Powering Performance on the World Stage". www.ifs.com. 8 January 2026.
  32. ^ Kinsella, Nizaar (20 February 2026). "Chelsea end sponsorless run with AI company IFS". BBC Sport. Retrieved 21 February 2026.
  33. ^ "Mark Moffat appointed as CEO of IFS; Darren Roos appointed chair". IFS. 9 January 2024.

Operations

IFS is governed by the company’s Executive Management Team, providing leadership and direction from a global, operational perspective. Strategically, the company has a four region focus, led by members of the Executive Management Team. These focus areas are; Southern & Western Europe, Northern & Central Europe, Americas and APJME&A.

See also

References

allikas: https://en.wikipedia.org/wiki/IFS_AB