IFS Moves to Acquire Copperleaf

As a leading provider of AI-powered enterprise Asset Investment Planning and Management (AIPM) software, Copperleaf enhances IFS’s position as a top global Enterprise Application Software provider for asset and service-centric industries. This strategic combination brings together complementary strengths, offering organizations a comprehensive suite of advanced software capabilities. Customers will benefit from sophisticated AI-powered solutions that manage crucial business assets throughout their lifecycle, driving operational efficiency and effectiveness.

Copperleaf’s software is used to manage over two trillion dollars' worth of physical and digital assets worldwide. It provides valuable data and insights, enabling customers to optimize investment decisions regarding their assets. The software supports major organizations in diverse industries such as electricity, natural gas, water, energy, pharmaceuticals, and transportation. Notable users include ONE Gas, a prominent natural gas utility in the United States; Manitoba Hydro, a leading integrated electricity and natural gas distribution utility in Canada; and National Grid, one of the world’s largest publicly listed utilities.

Mark Moffat, CEO of IFS, expressed excitement about the addition of Copperleaf to their customer offering. He highlighted the shared principles between the two companies, such as innovative technology, rapid time to value, industry expertise, exceptional ROI, and a strong customer-centric culture. Paul Sakrzewski, CEO of Copperleaf, echoed these sentiments, emphasizing pride in Copperleaf's achievements and the potential for accelerated growth and enhanced customer capabilities through their integration with IFS. He pointed to shared values and a commitment to providing advanced, commercially impactful software as key factors in this promising partnership.

Darren Roos, Chair of IFS, underscored the significant value this combination brings to complex, asset-intensive customers, partners, investors, and employees. Amos Michelson, outgoing Chair of Copperleaf, acknowledged the acquisition as a testament to the extensive investments and hard work that have made Copperleaf successful. He expressed confidence that Copperleaf’s future within IFS would offer new opportunities and growth for all stakeholders.

The completion of the transaction is subject to customary conditions, including court approval, shareholder approval from Copperleaf, and regulatory approval under the Canadian Competition Act. The acquisition is expected to be finalized in the third quarter of 2024, pending satisfaction of these conditions. For more detailed information about the transaction, refer to the financial press release.

This integration signifies a major step forward in asset and service management, leveraging Industrial AI to deliver unparalleled technological solutions. The synergy between IFS and Copperleaf will not only provide immediate benefits in terms of enhanced software capabilities but also foster long-term growth and innovation, ensuring both companies continue to lead in their respective fields. Customers can look forward to more advanced tools and services, designed to maximize the value and efficiency of their asset management processes. 

As the most advanced provider of AI-powered enterprise Asset Investment Planning and Management (AIPM) software, Copperleaf offers compelling capabilities that add further depth to IFS’s position as the foremost global Enterprise Application Software provider for asset and service-centric industries. This combination of Copperleaf and IFS is highly complementary, offering organizations an unparalleled breadth and depth of software capabilities. Customers will have access to advanced Industrial AI-powered software to manage every element of the assets that are so crucial to their business—across their lifecycle—in order to drive efficiency and effectiveness in their operations.

Over two trillion dollars of physical and digital assets around the world are managed using Copperleaf software, which provides data and insights to help customers optimize decisions on where and when to invest in their business. Its software is relied upon by some of the world’s largest and most respected organizations in the electricity, natural gas, water, energy, pharmaceutical, and transportation industries. Notable clients include ONE Gas, one of the largest publicly traded, 100 percent-regulated natural gas utilities in the United States, Manitoba Hydro, one of the largest integrated electricity and natural gas distribution utilities in Canada, and National Grid, one of the world’s largest publicly listed utilities.