IFS, an enterprise cloud and industrial artificial intelligence (AI) software provider, has wrapped up its previously announced C$1bn ($740m) acquisition of decision analytics company Copperleaf Technologies.
The deal was completed following the receipt of approvals from courts, shareholders, and regulators under the Canadian Competition Act.
Under the terms of the transaction, IFS acquired all outstanding shares of Copperleaf Technologies at a price of C$12 ($8.9) per share.
According to IFS, the acquisition is an important strategy to expedite growth and expand its global footprint in asset-heavy industries.
Besides, the transaction will enable IFS to introduce Copperleaf Technologies’ advanced capital investment planning solutions to new markets and regions, utilising the former’s global infrastructure and expertise.
By integrating Copperleaf Technologies’ capabilities, IFS enhances its asset management offerings, further establishing itself as the most comprehensive end-to-end asset lifecycle management provider in the market.
This combination will improve operational efficiency and aligns with IFS’s Moment of Service commitment, ensuring exceptional value for customers throughout the entire asset lifecycle.
IFS CEO Mark Moffat said: “By combining Copperleaf’s decision analytics with IFS’s robust enterprise solutions, businesses will be able to make more informed, real-time decisions, giving them a powerful competitive advantage in navigating complex and volatile economic environments with confidence and resilience.”
Copperleaf Technologies helps businesses in empowering their decision-making processes. Its advanced decision analytics optimises capital allocation, manages risk, and makes more precise and data-driven decisions.
Furthermore, Copperleaf Technologies’ solutions give companies a competitive advantage by enabling them to prioritise high-impact investments, adapt to evolving regulatory and market conditions, and align with sustainability objectives.
Copperleaf Technologies board of directors vice chair Judi Hess said: “Our combined capabilities will deliver unparalleled value to customers, enabling them to effectively address today’s complex challenges while strategically preparing for the future.”
IFS intends to use its IFS.ai architecture to enhance the decision analytics company’s existing asset investment planning capabilities.
Copperleaf Technologies manages more than $2.9 trillion in assets across the globe.
Moreover, the acquisition, which was initially announced in June this year, will allow IFS to solidify its position as a global leader in enterprise software and industrial AI. The company aims to equip businesses with the tools needed to make strategic, data-driven decisions that improve productivity, efficiency, and sustainability.
