The deal will strengthen IFS’ position in project-based solutions.
{mosimage} IFS (www.ifsworld.com), a global enterprise applications company with North American headquarters in Itasca, Ill., announced on Aug. 13 that it has signed an agreement with Qurius International Holding B.V. to purchase 100 percent of the shares of MultiPlus Solutions AS (www.multiplus.as). The acquisition will further strengthen IFS’ market position with respect to project-based solutions for targeted industry sectors, IFS said.
MultiPlus Solutions, based in Sandefjord, Norway, and with sites in China and Denmark, is an established vendor of project-based business applications to the marine (shipbuilding, offshore), Engineering, Procurement and Construction (EPC), and project manufacturing industries. The company offers a complete enterprise resource planning (ERP) suite including functionality for areas such as finance, project control, maintenance, manufacturing, document management, and human resource management.
With almost 100 customers in Norway, Denmark, France, the United States, and China, MultiPlus Solutions Group generated net revenue of about $7.7 million in 2008. IFS 2008 net revenue was $383 million.
“With the acquisition of MultiPlus Solutions, IFS can be seen to be executing on its stated strategy for growth and doing so by growing in one of its primary target sectors. The industries served by project-based solutions is a market in which MultiPlus Solutions is a well respected supplier and where IFS seeks to achieve a market-leading position with its excellent customers and deep industry knowledge,” said IFS Chief Executive Officer Alastair Sorbie.
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