Latest news with #MarkMoffat
TECHx
3 days ago
- Business
- TECHx
AI Software IFS Unveils Nexus Black for Industry
Home » Emerging technologies » Artificial Intelligence » IFS Unveils Nexus Black AI Software for Industry IFS, a leading provider of enterprise cloud and AI software, has announced the launch of IFS Nexus Black™ . This new strategic innovation program aims to accelerate high-impact AI adoption across industrial sectors. The company revealed that Nexus Black offers an alternative to legacy software vendors. It delivers tailored solutions with industrial-grade scalability and security. According to IFS, Nexus Black blends advanced AI technologies with deep industrial context. A dedicated delivery team partners directly with customers to address complex challenges in asset-heavy industries. The program is built on the foundation. It enables fast development and deployment of AI capabilities, transforming ideas into real results within weeks. IFS reported that the Nexus Black offering includes: Agile, sprint-based co-creation and prototyping using a scalable, secure development model A four-phase structure: Problem Definition, Proof of Value, Accelerated Development, and Digital Continuity Access to skilled AI engineers, domain experts, and solution architects with deep industrial expertise Nexus Black also focuses on agentic AI and contextual intelligence. The goal is to deliver trusted AI directly into live operations—quickly and securely. Mark Moffat, CEO of IFS, stated that businesses often face a choice between rigid tools and niche AI vendors with limited scalability. 'Nexus Black changes that,' he said. 'It reflects IFS's commitment to rapid, high-impact AI innovation for leading industrial organizations.' Matt Kempson, SVP, Commercial at IFS, added that AI features like co-pilots and embedded agents are now standard. 'What sets IFS apart is how we apply AI – rapidly, with deep industrial context,' he noted. 'Nexus Black lets us engage directly with complex challenges and turn innovation into scalable results.' The company also announced a co-investment model. This allows customers early access to capabilities and input into solution design. Reported initial use cases include predictive maintenance, manufacturing scheduling, AI co-pilots for service and sales, and automation for finance and supply chain. IFS confirmed that Nexus Black engagements are customized and expert-led. Interested organizations are advised to contact their IFS account manager for further discussions.
Tahawul Tech
15-04-2025
- Business
- Tahawul Tech
IFS attracts €15 billion valuation as demand for industrial AI soars
Dubai — IFS, a leading provider of cloud enterprise software and Industrial AI applications, announces it has achieved a valuation of over €15 billion following a significant pivot to AI-driven growth. The valuation comes as Hg increases its stake to become a co-control shareholder alongside EQT, with TA Associates (TA) remaining as minority shareholder. New minority shareholders also include a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and the Canada Pension Plan Investment Board (CPP Investments). Hg and the new investors are acquiring shares in IFS from EQT, which is selling through its EQT VIII and EQT IX funds, as well as from TA and other minority investors. Mark Moffat, CEO of IFS, said: 'IFS's success and sustained growth is centred around a commitment and track record of rapidly delivering business value to our customers. We have a differentiated proposition that continues to drive momentum in the industrial setting, specifically with the agentic and generative capabilities of which enables us to be the technology of choice for the businesses that service, power and protect our planet.' Moffat continued: 'The investment and continued commitment from Hg, EQT and TA will help IFS further accelerate our journey to be the undisputed category leader of Industrial Software.' The transaction follows many successful years of growth for IFS, delivering more than EUR 1 billion in ARR (annual recurring revenue) last year. Total revenue for 2024 was over € 1.2 billion, with some of the world's largest industrial companies choosing IFS over legacy vendors. Demand for IFS's industrial AI capabilities has increased significantly over the past 12 months as organizations across IFS's focus industries of Aerospace & Defence, Engineering & Construction, Energy & Utilities, Manufacturing, Telco and Service, continue to realise the rapid and transformative value that delivers. IFS will continue to expand its capabilities with the industrial application of generative and agentic AI, so that customers can automate workflows, improve efficiency and deliver amazing moments of service to their own customers. Johannes Reichel, Partner and Co-Head of Technology in the EQT Private Equity advisory team, added, 'EQT's relationship with IFS started in 2015 and it has been remarkable to see the company's growth since then. Starting as a software vendor focused on Northern Europe, IFS has become a global provider of enterprise solutions while embracing the power of AI for the benefit of its industrial clients. It's a prime example of EQT's ability to 'run with the winners', where we partner with management teams over the long-term to scale regional players into global champions. We are excited to work alongside Hg to continue supporting IFS through this next phase.' Over the past year, IFS added 350 new customers including Exelon who adopted IFS to streamline asset maintenance across its energy grid, Rolls-Royce who is using IFS to transform service delivery of its Power Systems business, and Total Energies who is deploying IFS as the single platform for management and servicing of its global operated asset portfolio. Moreover, an increasing number of large businesses are moving to IFS which is reflected in the average deal size of IFS's largest customers increasing by 64% year-on-year. Nic Humphries, Senior Partner and Head of the Saturn funds at Hg, commented, 'With 20 years' experience investing in software, we recognise exceptional businesses when we see them. Our increased investment in IFS reflects our conviction in their long-term vision and strong execution, which enables their customers' digital transformation.' Hg increases its stake in enterprise software provider IFS and becomes co-control shareholder alongside EQT, while existing minority shareholder TA Associates remains invested New investors in this transaction include a wholly-owned subsidiary of the Abu Dhabi Investment Authority ('ADIA') and the Canada Pension Plan Investment Board ('CPP Investments') IFS continues to perform strongly, having recently surpassed EUR 1 billion in ARR while growing by more than 30% year-on-year Jonathan Wulkan, Partner at Hg, added, 'Since our initial partnership in 2022 alongside EQT, Mark and the team have not only delivered impressive and consistent growth but have emerged as a global leader in Industrial AI – translating the promise of AI into practical solutions that drive efficiency and sustainability for essential industries, with significant potential for continued growth.' Naveen Wadhera, Managing Director at TA, commented, 'IFS's exceptional leadership, strong execution, and transformative AI capabilities are redefining what's possible in enterprise software. We remain confident in the company's vision and are excited to be part of its continued journey.' The transaction is subject to customary regulatory approvals and is expected to complete end of Q2 2025. IFS and selling shareholders were advised by Arma Partners and White & Case, EQT was also advised by Evercore, and Hg was advised by Morgan Stanley & Co. plc and Skadden.
Khaleej Times
11-04-2025
- Business
- Khaleej Times
IFS attracts EUR 15 billion valuation as demand for industrial AI soars
IFS, a leading provider of cloud enterprise software and Industrial AI applications, announces it has achieved a valuation of over EUR 15 billion following a significant pivot to AI-driven growth. The valuation comes as Hg increases its stake to become a co-control shareholder alongside EQT, with TA Associates ('TA') remaining as minority shareholder. New minority shareholders also include a wholly-owned subsidiary of the Abu Dhabi Investment Authority ('ADIA') and the Canada Pension Plan Investment Board ('CPP Investments'). Hg and the new investors are acquiring shares in IFS from EQT, which is selling through its EQT VIII and EQT IX funds, as well as from TA and other minority investors. The transaction follows many successful years of growth for IFS, delivering more than EUR 1 billion in ARR ('annual recurring revenue') last year. Total revenue for 2024 was over EUR 1.2 billion, with some of the world's largest industrial companies choosing IFS over legacy vendors. Demand for IFS's industrial AI capabilities has increased significantly over the past 12 months as organisations across IFS's focus industries of aerospace and defence, engineering and construction, energy and utilities, manufacturing, telco and service, continue to realise the rapid and transformative value that delivers. IFS will continue to expand its capabilities with the industrial application of generative and agentic AI, so that customers can automate workflows, improve efficiency and deliver amazing moments of service to their own customers. Over the past year, IFS added 350 new customers including Exelon who adopted IFS to streamline asset maintenance across its energy grid, Rolls-Royce who is using IFS to transform service delivery of its Power Systems business, and Total Energies who is deploying IFS as the single platform for management and servicing of its global operated asset portfolio. Moreover, an increasing number of large businesses are moving to IFS which is reflected in the average deal size of IFS's largest customers increasing by 64% year-on-year. Mark Moffat, CEO of IFS, said: "IFS's success and sustained growth is centred around a commitment and track record of rapidly delivering business value to our customers. We have a differentiated proposition that continues to drive momentum in the industrial setting, specifically with the agentic and generative capabilities of which enables us to be the technology of choice for the businesses that service, power and protect our planet." Moffat continued: 'The investment and continued commitment from Hg, EQT and TA will help IFS further accelerate our journey to be the undisputed category leader of Industrial Software." Johannes Reichel, partner and co-head of technology in the EQT Private Equity advisory team, added: "EQT's relationship with IFS started in 2015 and it has been remarkable to see the company's growth since then. Starting as a software vendor focused on Northern Europe, IFS has become a global provider of enterprise solutions while embracing the power of AI for the benefit of its industrial clients. It's a prime example of EQT's ability to 'run with the winners', where we partner with management teams over the long-term to scale regional players into global champions. We are excited to work alongside Hg to continue supporting IFS through this next phase." Nic Humphries, senior partner and head of the saturn funds at Hg, commented: "With 20 years' experience investing in software, we recognise exceptional businesses when we see them. Our increased investment in IFS reflects our conviction in their long-term vision and strong execution, which enables their customers' digital transformation." Jonathan Wulkan, Partner at Hg, added: "Since our initial partnership in 2022 alongside EQT, Mark and the team have not only delivered impressive and consistent growth but have emerged as a global leader in Industrial AI - translating the promise of AI into practical solutions that drive efficiency and sustainability for essential industries, with significant potential for continued growth." Naveen Wadhera, managing director at TA, commented: "IFS's exceptional leadership, strong execution, and transformative AI capabilities are redefining what's possible in enterprise software. We remain confident in the company's vision and are excited to be part of its continued journey." The transaction is subject to customary regulatory approvals and is expected to complete end of Q2 2025. IFS and selling shareholders were advised by Arma Partners and White & Case, EQT was also advised by Evercore, and Hg was advised by Morgan Stanley & Co. plc and Skadden.
Trade Arabia
10-04-2025
- Business
- Trade Arabia
Abu Dhabi, Canada groups new investors in $16.5bn IFS deal
Private equity company EQT has sold a €3 billion ($3.3 billion) stake in IFS - a leading provider of cloud enterprise software and Industrial artificial intelligence (AI) applications - thus bringing in the Abu Dhabi Investment Authority (ADIA) and Canada Pension Plan Investment Board (CPPIB) as new investors. Announcing this, IFS said it has achieved a valuation of over €15 billion ($16.5 billion) following a significant pivot to AI-driven growth. The valuation comes as Hg increases its stake to become a co-control shareholder alongside EQT, with TA Associates remaining as minority shareholder. Hg and the new investors (a wholly-owned subsidiary of ADIA and CPP Investments) are acquiring shares in IFS from EQT, which is selling through its EQT VIII and EQT IX funds, as well as from TA and other minority investors. Demand for IFS's industrial AI capabilities has increased significantly over the past 12 months as organizations across its focus industries of Aerospace & Defence, Engineering & Construction, Energy & Utilities, Manufacturing, Telco and Service, continue to realise the rapid and transformative value that delivers. IFS will continue to expand its capabilities with the industrial application of generative and agentic AI, so that customers can automate workflows, improve efficiency and deliver amazing moments of service to their own customers, said the statement. In total about €3 billion of new money will go into IFS, according to a person familiar with the matter. EQT will sell down some of its stake as part of the transaction and investor TA Associates will also remain a shareholder. Over the past year, IFS added 350 new customers including Exelon who adopted IFS to streamline asset maintenance across its energy grid, Rolls-Royce who is using IFS to transform service delivery of its Power Systems business, and Total Energies who is deploying IFS as the single platform for management and servicing of its global operated asset portfolio. Moreover, an increasing number of large businesses are moving to IFS which is reflected in the average deal size of IFS's largest customers increasing by 64% year-on-year. CEO Mark Moffat said: "IFS's success and sustained growth is centred around a commitment and track record of rapidly delivering business value to our customers. We have a differentiated proposition that continues to drive momentum in the industrial setting, specifically with the agentic and generative capabilities of which enables us to be the technology of choice for the businesses that service, power and protect our planet." "The investment and continued commitment from Hg, EQT and TA will help IFS further accelerate our journey to be the undisputed category leader of Industrial Software," stated Moffat. Johannes Reichel, Partner and Co-Head of Technology in the EQT Private Equity advisory team, said: "EQT's relationship with IFS started in 2015 and it has been remarkable to see the company's growth since then. Starting as a software vendor focused on Northern Europe, IFS has become a global provider of enterprise solutions while embracing the power of AI for the benefit of its industrial clients." "It's a prime example of EQT's ability to 'run with the winners', where we partner with management teams over the long-term to scale regional players into global champions. We are excited to work alongside Hg to continue supporting IFS through this next phase," he noted. Nic Humphries, Senior Partner and Head of the Saturn funds at Hg, said: "With 20 years' experience investing in software, we recognise exceptional businesses when we see them. Our increased investment in IFS reflects our conviction in their long-term vision and strong execution, which enables their customers' digital transformation." Jonathan Wulkan, Partner at Hg, said: "Since our initial partnership in 2022 alongside EQT, Mark and the team have not only delivered impressive and consistent growth but have emerged as a global leader in Industrial AI - translating the promise of AI into practical solutions that drive efficiency and sustainability for essential industries, with significant potential for continued growth." Naveen Wadhera, Managing Director at TA, said: "IFS's exceptional leadership, strong execution, and transformative AI capabilities are redefining what's possible in enterprise software. We remain confident in the company's vision and are excited to be part of its continued journey." According to IFS, the transaction follows many successful years of growth for the group, delivering more than €1 billion in ARR (annual recurring revenue) last year. Total revenue for 2024 was over €1.2 billion, with some of the world's largest industrial companies choosing IFS over legacy vendors.
Yahoo
09-04-2025
- Business
- Yahoo
EQT, Hg and TA-owned IFS valued at EUR 15 billion in minority stake sale, following investment from Hg, ADIA and CPP Investments
Hg increases its stake in enterprise software provider IFS and becomes co-control shareholder alongside EQT, while existing minority shareholder TA Associates remains invested. New investors in this transaction include a wholly-owned subsidiary of the Abu Dhabi Investment Authority ("ADIA") and the Canada Pension Plan Investment Board ("CPP Investments") IFS continues to perform strongly, having recently surpassed EUR 1 billion in ARR while growing by more than 30% year-on-year. STOCKHOLM, April 9, 2025 /PRNewswire/ -- IFS, a leading provider of cloud enterprise software and Industrial AI applications, announces it has achieved a valuation of over EUR 15 billion following a significant pivot to AI-driven growth. The valuation comes as Hg increases its stake to become a co-control shareholder alongside EQT, with TA Associates ("TA") remaining as minority shareholder. New minority shareholders also include a wholly-owned subsidiary of the Abu Dhabi Investment Authority ("ADIA") and the Canada Pension Plan Investment Board ("CPP Investments"). Hg and the new investors are acquiring shares in IFS from EQT, which is selling through its EQT VIII and EQT IX funds, as well as from TA and other minority investors. The transaction follows many successful years of growth for IFS, delivering more than EUR 1 billion in ARR ("annual recurring revenue") last year. Total revenue for 2024 was over EUR 1.2 billion, with some of the world's largest industrial companies choosing IFS over legacy vendors. Demand for IFS's industrial AI capabilities has increased significantly over the past 12 months as organizations across IFS's focus industries of Aerospace & Defence, Engineering & Construction, Energy & Utilities, Manufacturing, Telco and Service, continue to realise the rapid and transformative value that delivers. IFS will continue to expand its capabilities with the industrial application of generative and agentic AI, so that customers can automate workflows, improve efficiency and deliver amazing moments of service to their own customers. Over the past year, IFS added 350 new customers including Exelon who adopted IFS to streamline asset maintenance across its energy grid, Rolls-Royce who is using IFS to transform service delivery of its Power Systems business, and Total Energies who is deploying IFS as the single platform for management and servicing of its global operated asset portfolio. Moreover, an increasing number of large businesses are moving to IFS which is reflected in the average deal size of IFS's largest customers increasing by 64% year-on-year. Mark Moffat, CEO of IFS, said: "IFS's success and sustained growth is centred around a commitment and track record of rapidly delivering business value to our customers. We have a differentiated proposition that continues to drive momentum in the industrial setting, specifically with the agentic and generative capabilities of which enables us to be the technology of choice for the businesses that service, power and protect our planet." Moffat continued: "The investment and continued commitment from Hg, EQT and TA will help IFS further accelerate our journey to be the undisputed category leader of Industrial Software." Johannes Reichel, Partner and Co-Head of Technology in the EQT Private Equity advisory team, added: "EQT's relationship with IFS started in 2015 and it has been remarkable to see the company's growth since then. Starting as a software vendor focused on Northern Europe, IFS has become a global provider of enterprise solutions while embracing the power of AI for the benefit of its industrial clients. It's a prime example of EQT's ability to 'run with the winners', where we partner with management teams over the long-term to scale regional players into global champions. We are excited to work alongside Hg to continue supporting IFS through this next phase." Nic Humphries, Senior Partner and Head of the Saturn funds at Hg, commented: "With 20 years' experience investing in software, we recognise exceptional businesses when we see them. Our increased investment in IFS reflects our conviction in their long-term vision and strong execution, which enables their customers' digital transformation." Jonathan Wulkan, Partner at Hg, added: "Since our initial partnership in 2022 alongside EQT, Mark and the team have not only delivered impressive and consistent growth but have emerged as a global leader in Industrial AI - translating the promise of AI into practical solutions that drive efficiency and sustainability for essential industries, with significant potential for continued growth." Naveen Wadhera, Managing Director at TA, commented: "IFS's exceptional leadership, strong execution, and transformative AI capabilities are redefining what's possible in enterprise software. We remain confident in the company's vision and are excited to be part of its continued journey." The transaction is subject to customary regulatory approvals and is expected to complete end of Q2 2025. IFS and selling shareholders were advised by Arma Partners and White & Case, EQT was also advised by Evercore, and Hg was advised by Morgan Stanley & Co. plc and Skadden. ContactEQT Press Office, press@ Eckersley, Sam Ferris, TAMaggie Benoit, mbenoit@ IFSEUROPE / MEA / APJ: Adam Gillbe, NORTH AMERICA / LATAM: Mairi Morgan, This information was brought to you by Cision The following files are available for download: PR_EQT, Hg and TA-owned IFS valued at EUR 15 billion_09.04.25 IFS View original content: SOURCE EQT
