IFS acquires MainIoT Software Oy
IFS, the global enterprise applications company, today announces that it has signed an agreement with the owners of MainIoT Software Oy (“MainIoT”) to purchase 100 percent of the company’s shares. The purchase price will be paid in cash.
MainIoT provides software solutions for Enterprise Asset Management (EAM) and Enterprise Service Management (ESM) as well as related master data management solutions to companies operating in the energy, process, manufacturing and service industries.
Now as part of IFS, MainIoT’s customer base of more than 200 companies, including well-known companies like SSAB, Caverion, Neste, Gasum, Empower and Maintpartners will benefit from access to IFS’s proven industry-focused solutions as well as the strength of a global enterprise application vendor that is recognized by independent analysts as an industry ‘leader’.
Fredrik vom Hofe, Group Senior Vice President Business Development, said: “With the acquisition of MainIoT, IFS can be seen as executing on its stated strategy for growth. MainIoT is very well positioned within our focused high growth segments of Enterprise Asset & Service Management, and will both strengthen our offering and helps us consolidate the important Finnish market. In addition, IFS will be able to leverage on MainIoT’s capabilities within ”Industrial Internet of Things” – an area where we actively work on developing our offerings”.
MainIoT was previously a wholly owned division of Solteq Oyj with employees based across two Finnish offices in Helsinki and Tampere. The company generated €5 million in revenue and had an EBITDA-margin of 25% (FY 2015).
Tapani Pohjonen, IFS Finland CEO, said: “IFS has been very successful in recent years within the Finnish Enterprise Asset Management & Enterprise Service Management market. Through this acquisition we further strengthen our business in these focus markets and bolster our team with highly accomplished professionals who will help us further enhance the service we offer IFS and MainIoT customers. We warmly welcome all new colleagues and customers to IFS”.
IFS expects that there will be a limited positive earnings impact from the acquisition in 2016.