IFS, the global enterprise applications company, today announces that it has signed an agreement with the owners of Metrix LLC (“Metrix”) to purchase 100 percent of the membership interests. The purchase price will be paid in cash. The acquisition will further strengthen IFS’s market position in the high-growth global Mobility & Service Management application market.
Metrix was founded in 1980 in the USA and is 100 percent focused on providing advanced Mobility & Service Management applications. The company is headquartered in Waukesha (Wisconsin, USA) with subsidiaries in the Netherlands and Singapore.
The company generated net revenue of $8.7 million and EBITDA amounting to $1.3 million in the financial year ending December 31, 2011.
Metrix has built a very strong position providing service management solutions to industries such as Asset & Capital Equipment, Telecommunications, High Tech & Medical Device Manufacturing, Transportation, and Third Party/Outsourced Field Service Operations. They have approximately 90 customers including many well-known brands such as the Ericsson Group, Motorola, Xerox, Space Engineering Services, DHL, Auto Windscreens, ITT, IMAX, Ingenico, Makino and Sysmex.
The acquisition provides IFS with a state of the art, built–in, configurable and packaged mobile application for the field service market. This solution offers short time to value and a robust, mobile development framework which will add valuable mobile technology and experience to IFS. Metrix has provided mobile solutions to the field service market since 1991, and has continued to innovate to offer modern, leading-edge technology.
By combining IFS, Metrix, and IFS 360 Scheduling, a real-time workforce scheduling solution, IFS can realize strong revenue synergies as it gives IFS the most complete service management offering on the market - from a single vendor. IFS now provides both a broader service and project centric ERP solution for asset intensive industries (long life capital equipment), as well as a more customer-centric (contact center, workforce scheduling) solution for high volume service providers - both combined with a state-of-the-art on/off-line mobile application.
In addition, the acquisition further extends IFS’ existing cloud strategy. Metrix is available through multiple deployment options: On-premise, Software-as-a-Service (SaaS) or Software + Services.
“With the acquisition of Metrix, IFS can be seen as executing on its stated strategy for growth by investing in one of the fastest growing sectors for enterprise applications. Market penetration of advanced service management & mobility solutions is estimated by Gartner at only 20 percent of the addressable market, with highest demand in capital-intensive industries such as utilities and telecoms. This acquisition gives IFS an excellent platform to exploit the growth potential in this market and provide solutions to help our customers deliver competitive advantage. IFS will significantly strengthen its execution capabilities in this very attractive sector, especially in North America, to the benefit of all our existing and new customers” Alastair Sorbie, IFS CEO said.
Larry Laux, Metrix Founder, said, “IFS and Metrix will be an unstoppable force in the service management and mobility market. IFS, with its international presence, strong position in service & asset management and customer-focused culture is an ideal fit with Metrix. My team and I very much look forward to joining IFS and continuing to accelerate the growth of the mobile workforce management business”. IFS Americas will be responsible for integrating Metrix. President & CEO of IFS Americas, Cindy Jaudon, looks forward to welcoming both new customers and employees to IFS.
IFS expects that there will be a positive earnings impact from the acquisition in 2012.
IFS is a public company (OMX STO: IFS) founded in 1983 that develops, supplies, and implements IFS Applications™, a component-based extended ERP suite built on SOA technology. IFS focuses on industries where any of four core processes are strategic: Service & asset management, manufacturing, supply chain and projects. The company has 2,000 customers and is present in approximately 60 countries with 2,800 employees in total. Net revenue in 2011 was SKr 2.6 billion.
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IFS discloses the information herein pursuant to the Financial Instruments Act (1991:980) and/or the Securities Markets Act (2007:528). The information was submitted for publication on May 23, 2012, at 10:00 a.m. CEST.
About Metrix LLC.
Metrix was established in 1980 in Waukesha (Wisconsin) USA and is 100% focused on providing advanced Service Management & Mobility Software. The company has more than 50 employees of which the majority are based in Waukesha (HQ), and there are small sales offices in Singapore and the Netherlands, and a sales partner in the UK (FSM). The company generated net revenue of $8.7 million and EBITDA amounting to $1.3 million in the financial year ending December 31, 2011.
Metrix is very strong in industries like Asset & Capital Equipment, Telecommunications, High Tech & Medical Device Manufacturing, Transportation and Third Party/Outsourced Field Service Operations. They have almost 90 customers including many famous brands such as Ericsson, Motorola, Xerox, Space Engineering Services, DHL, Auto Windscreens, ITT, IMAX, Ingenico, Makino and Sysmex.