IFS forges new alloy for industrial AI, buys Copperleaf
IFS is increasing the heat in the smelting and ore-extraction processes needed to forge its ‘industrial AI software’ technology proposition.
Keen to cast a stronger, more ductile but still professionally tempered approach here (Ed: enough blacksmith analogies already, we get it) IFS has now entered into a definitive agreement to buy Copperleaf Technologies Inc. (TSX: CPLF).
Known as a provider of AI-powered enterprise Asset Investment Planning and Management (AIPM) software, Copperleaf’s technologies are suggested to dovetail well with IFS’s position as it seeks to provide enterprise application software for asset-based and service-centric industries.
Asset lifecycle
The combination of Copperleaf and IFS is intended to provide users with access to advanced industrial AI-powered software to manage business assets throughout the ‘asset lifecycle’ and across the software application development lifecycle.
Over two trillion dollars of physical and digital assets around the world are managed using Copperleaf software.
The company has specific experience in industries spanning electricity, natural gas, water, energy, pharmaceutical and transportation.
“IFS continues to build on its position as the global software leader for asset and service management, powered by industrial AI,” said Mark Moffat, CEO of IFS. “We IFS & Copperleaf] now combine two companies built on the same principles: world-class technology with unrivalled time to value, asset and industry expertise delivering exceptional ROI.”
Moffat has also suggested that the two firms have symbiotic organisational cultures… and yes, he mentioned customers at that point, because that’s what CEOs do.
Asset ownership
Agreeing with Moffat (and now joining IFS as a senior employee) Paul Sakrzewski, CEO of Copperleaf has echoed these sentiments and said that the team’s next phase of growth will deliver new and greater capabilities. “[This is] thanks to shared values and a commitment to delivering the most advanced and commercially impactful software asset owners could need,” he said.
Completion of the transaction is subject to customary conditions, including court approval, approval of the Copperleaf shareholders and regulatory approval.
