IFS to acquire Copperleaf Technologies
IFS has entered into a definitive agreement to buy Copperleaf Technologies, a provider of AI-powered enterprise Asset Investment Planning and Management software. The combination will give customers access to advanced industrial AI-powered software to manage their assets.
Over $2 trillion dollars of physical and digital assets around the world are managed using Copperleaf software, in industries like natural gas and electricity.
Mark Moffat, CEO of IFS, commented: “IFS continues to build on its position as the global software leader for Asset and Service management, powered by Industrial AI. I am deeply excited about what Copperleaf brings to our extended customer offering.”
Paul Sakrzewski, CEO of Copperleaf, added “Our next phase of growth as part of IFS will enable us to accelerate even faster, and offer customers even greater capabilities, thanks to shared values and a commitment to delivering the most advanced and commercially impactful software asset-owners could need.”
Completion of the transaction is subject to customary conditions and expected to be completed in Q3 2024.
