IFS has signed a definitive agreement to purchase Ulitmo Software Solutions (ULTIMO), the Netherlands-based provider of cloud Enterprise Asset Management (EAM) software.
IFS provides end-to-end industry specific EAM software to companies with complex needs and looking to manage their assets’ efficiency from cradle to grave.
ULTIMO complements the IFS Cloud EAM offering with a proven track record of delivering faster time to value within the industries it serves, and providing an EAM point-solution that is known for its rapid deployment and ease of use.
Founded in 1988, ULTIMO’S customers base sits primarily in Europe with some US presence. The company has 180 employees and over 2000 customers, including London Gatwick Airport, BASF, VTTI, Ravago, Vion Food Group, Argent Energy, and Hutchison Ports ECT Rotterdam.
According to IFS, the acquisition means that the company is the only vendor now able to offer cloud native EAM solutions that cater for every business with either complex end-to-end business needs or as a standalone point solution.
Darren Roos, IFS CEO, said: “This acquisition puts IFS in a uniquely strong position as we now offer the most complete set of EAM capabilities in the market. The flexibility and configurability of ULTIMO is a great complement to the end-to-end capabilities of IFS Cloud. Helping our customers deliver on their Moment of Service goals by turning assets and the services they require, into a business differentiator has been central to IFS’s success in EAM, and this is something that we know resonates equally well with ULTIMO customers.”
Willem-Jan Scholten, ULTIMO CEO, added: “I am proud that we have successfully established ULTIMO as a well-respected provider of Enterprise Asset Management software in our core industries. The market is ripe for disruption, and we have a lot more to achieve, so being part of the IFS family means we can capitalize on our joint ambitions even faster. Now as part of the industry’s number one provider of EAM software, we have found a company in IFS that shares our values and provides the backing we need to take what’s so special about ULTIMO – with our product, customers, people and partners – to the next level.”
IFS expects the acquisition of ULTIMO to complete in Q3 2022.