IFS, a global cloud and Industrial AI software company, has announced a definitive agreement to acquire Copperleaf Technologies Inc. (TSX: CPLF). This strategic move aims to bolster IFS’s capabilities in Enterprise Asset Management (EAM) by integrating Copperleaf’s Advanced Decision Analytics Software.
Copperleaf specializes in AI-powered Asset Investment Planning and Management (AIPM) software, trusted by industries such as electricity, natural gas, water, energy, pharmaceuticals, and transportation. Their solutions, utilized by major organizations like ONE Gas, Manitoba Hydro, and National Grid, manage over two trillion dollars in assets worldwide. The acquisition will enable IFS to offer enhanced software capabilities, leveraging Industrial AI to optimize asset lifecycle management.
Mark Moffat, CEO of IFS, expressed enthusiasm about the acquisition: “This move reinforces IFS’s leadership in Asset and Service management powered by Industrial AI. Copperleaf’s technology complements ours perfectly, aligning with our commitment to deliver exceptional ROI and customer-centric solutions.”
Paul Sakrzewski, CEO of Copperleaf, emphasized the potential for accelerated growth: “Joining IFS marks the next chapter for Copperleaf, enhancing our ability to deliver advanced solutions and drive value for customers globally.”
Darren Roos, Chair of IFS, highlighted the strategic benefits: “The combination of Copperleaf and IFS creates compelling value for asset-intensive industries and stakeholders alike.”
Amos Michelson, outgoing Chair of Copperleaf, sees the acquisition as a testament to their achievements: “This is recognition of our dedication and success. As part of IFS, we look forward to new opportunities and continued growth.”
The acquisition is subject to regulatory approval and customary closing conditions. Upon completion, IFS aims to integrate Copperleaf seamlessly into its portfolio, further empowering industries with cutting-edge EAM solutions.
