EQT Group to acquire enterprise software firm IFS for over EUR 3 billion
EQT Group has agreed to acquire enterprise software provider IFS in a transaction valued at over EUR 3 billion, with TA Associates joining as a minority partner.
Investment firm EQT Group has announced the acquisition of IFS, a global provider of enterprise resource planning and field service management software. The deal, involving EQT VIII and EQT IX funds, values the company at more than EUR 3 billion. Growth equity firm TA Associates will participate in the transaction as a significant minority partner.
Founded in 1983, IFS serves over 10,000 customers globally, focusing on digitalizing core business operations. EQT and TA Associates plan to support the company’s ongoing development through increased investment in its organizational structure and product capabilities. Growth strategies are expected to include both organic expansion and targeted add-on acquisitions.
IFS CEO Darren Roos noted that the involvement of both investment firms would accelerate the company’s growth in the competitive field service management market. EQT partners highlighted that the move aligns with their broader investment themes, particularly regarding sustainable industrialization.
The transaction is subject to customary regulatory approvals and is expected to close by the end of August 2020.