IFS has signed a definitive agreement to purchase Astea International, a global leader in field service and mobile workforce management. The transaction will enable the combined company to serve more customers in more markets through a broader network of the best talent and partners in the industry.
IFS has driven significant organic growth of its field service software business, with license revenues increasing by 119 percent so far this year. By combining with Astea, IFS will further expand its global footprint beyond its more than 10,000 customers worldwide, of which 8,000 are in field service management (FSM). By adding Astea to its already robust platform, the combined company will be in an even stronger position to take advantage of major industry trends like servitization to drive more value for customers in all focus industries.
Zack Bergreen, CEO and Founder of Astea said:
“We’ve admired IFS’s growth and global scale for a long time and know that they share our customer-centric approach to field service management. I am grateful for the commitment our employees have demonstrated, which has enabled today’s transformative announcement.” He added, “As I’ve got to know Darren and his management team during this process, I can say I’m looking forward to working with the entire IFS organisation to offer our customers the best Field Service Management solutions on the market.”