IFS, a global enterprise applications company, has signed an agreement with the owners of Metrix LLC to purchase 100% of the membership interests. The purchase price will be paid in cash. The acquisition will further strengthen IFS's market position in the high-growth global mobility and service management applications market.
Metrix was founded in 1980 in the USA and is 100% focused on providing advanced mobility and service management applications. The company is headquartered in Waukesha, Wisc., with subsidiaries in the Netherlands and Singapore.
The company generated net revenue of $8.7 million and EBITDA amounting to $1.3 million in the financial year ending Dec. 31, 2011.
Metrix has built a very strong position providing service management solutions to industries such as Asset & Capital Equipment, Telecommunications, High Tech & Medical Device Manufacturing, Transportation, and Third Party/Outsourced Field Service Operations. They have approximately 90 customers including many well-known brands such as the Ericsson Group, Motorola, Xerox, Space Engineering Services, DHL, Auto Windscreens, ITT, IMAX, Ingenico, Makino and Sysmex.
The acquisition provides IFS with a state of the art, built–in, configurable and packaged mobile application for the field service market. This solution offers short time to value and a robust, mobile development framework which will add valuable mobile technology and experience to IFS. Metrix has provided mobile solutions to the field service market since 1991, and has continued to innovate to offer modern, leading-edge technology.
By combining IFS, Metrix, and IFS 360 Scheduling, a real-time workforce scheduling solution, IFS can realize strong revenue synergies as it gives IFS the most complete service management offering on the market - from a single vendor. IFS now provides both a broader service and project centric ERP solution for asset intensive industries (long life capital equipment), as well as a more customer-centric (contact center, workforce scheduling) solution for high volume service providers - both combined with a state-of-the-art on/off-line mobile application.
In addition, the acquisition further extends IFS' existing cloud strategy. Metrix is available through multiple deployment options: On-premise, Software-as-a-Service (SaaS) or Software + Services.
IFS expects that there will be a positive earnings impact from the acquisition in 2012.