IFS, a Linköping, Sweden-based provider of cloud and Industrial AI software, acquired Copperleaf Technologies Inc. (TSX: CPLF), a Vancouver, British Columbia, Canada-based provider of decision analytics software for asset-intensive industries.
The amount of the deal was not disclosed.
The combination of Copperleaf and IFS is complementary, offering organizations enhanced software capabilities. Customers will have access to advanced Industrial AI-powered software to manage every element of the assets crucial to their business – across their lifecycle – in order to drive efficiency and effectiveness in their operations.
Led by Paul Sakrzewski, CEO, Copperleaf is an advanced provider of AI-powered enterprise Asset Investment Planning and Management (“AIPM”) software to companies across the electricity, natural gas, water, energy, pharmaceutical and transportation industries.
The software provides data and insights to help customers optimize decisions on where and when to invest in their business. It is used byONE Gas, Manitoba Hydro, and National Grid.
Led by CEO Mark Moffat, IFS develops and delivers enterprise software for companies around the world who manufacture and distribute goods, build and maintain assets, and manage service-focused operations. Within its single platform, its industry specific products are connected to a single data model and use embedded digital innovation.
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.
FinSMEs
12/06/2024