IFS and Acumatica to Form Global Cloud ERP Powerhouse Under EQT Ownership

 EQT Partners, a leading investment firm with $45B (€40B) of assets under management, has announced the signing of a definitive agreement to acquire cloud-native enterprise software provider Acumatica through an investment vehicle owned by the same holding company that holds IFS AB (Industrial and Financial Systems).  To further reinforce this coalition, following the closing of the transaction Jonas Persson will serve as chairman for both companies.  IFS, the global enterprise applications company, and Acumatica, the world’s fastest-growing Cloud ERP provider, will serve growth industries, such as manufacturing, distribution, construction, service, energy and A&D, while competing directly with SAP, Oracle, Microsoft, Infor, and Sage among others.

The closing of the transaction is subject to the satisfaction of customary closing conditions, including the receipt of regulatory approvals.  The transaction is expected to close in the third quarter. Terms of the transaction were not disclosed.

Formation of a Global Cloud ERP Powerhouse 

The new global entity is ultimately designed to meet a growing range of customer requirements.  Both IFS and Acumatica understand that businesses are becoming increasingly global, regardless of size or industry.  To scale and compete, customers need a network of resources that will support business operations wherever they, their business partners, and customers may be.  To address these needs the two companies will tap into one another’s ISV, reseller and systems integrator communities, cross-pollinate technical resources and roadmaps, and implement best practices across services and support to enable efficiencies of scale and rapid growth that are mutually beneficial.  Both companies are currently adopting artificial intelligence and machine learning features into their respective products and expect to achieve early success in that area.