THE IFSa provider of enterprise cloud software and industrial AI, announced this week that it has completed its C$1 billion (CAD) acquisition of Copper Foil TechnologiesThe deal was announced in June this year and was still awaiting approval from regulators, courts and shareholders.
IFS has acquired all of the outstanding shares of Copperleaf for C$12 per share. The company says the acquisition represents “an important milestone” in IFS’s strategy to “accelerate growth and drive global expansion in asset-intensive sectors.”
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In a statement, IFS said it intends to expand Copperleaf’s capital planning and investment solutions into new markets and geographies. By partnering with Copperleaf, IFS will be able to expand its asset management capabilities, advancing what it calls end-to-end asset lifecycle management.
Mark Moffat, CEO of IFSsays the deal “combines Copperleaf’s business intelligence with IFS’s robust business solutions,” and that customers will be able to “make more informed decisions in real time” with these solutions.
Copperleaf’s technology promises to “revolutionize decision-making” for companies that accumulate large capital investments in physical assets. This means analytics for capital allocation, risk management and more accurate business decisions.
Cooperleaf currently manages over $2.9 trillion in assets globally.
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