ERP cloud companies to collaborate under new ownership
EQT Partners announced the signing of cloud-native enterprise software provider Acumatica through an investment vehicle owned by the same holding company that holds IFS AB (Industrial and Financial Systems). Following the closing of the transaction Jonas Persson will serve as chairman for both companies. IFS and Acumatica will serve growth industries such as manufacturing, distribution, construction, service, and energy.
“This collaboration is great news for both organizations, our customers, partners, and employees,” said IFS CEO Darren Roos in a press release. Roos will assume a position on Acumatica’s board of directors. “EQT has brought together two businesses that will enjoy the key benefits of a partnership in the growing cloud enterprise applications market. IFS and Acumatica can benefit from one another’s resources, capabilities, and strategies, but still enjoy full autonomy and rapid growth trajectories while avoiding disruptions to business operations or brand equity.”
“IFS is an admirable company in the ERP market who shares our belief in customer satisfaction,” said Jon Roskill, CEO, Acumatica. “Combined with the proficiencies of IFS, Acumatica is positioned to expand into new markets and offer true global support for our rapidly expanding international customers.”
The transaction is expected to close in the third quarter. Terms were not disclosed.
– Edited from an IFS press release by CFE Media.