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| Company type | Private[1] |
|---|---|
| Industry | Enterprise software |
| Founded | 1983 (1983) |
| Headquarters | , |
Area served | Worldwide |
Key people | Mark Moffat(CEO) |
| Products | IFS Cloud, Enterprise resource planning, Field Service Management, Enterprise Asset Management, Energy & Resources, IFS Assyst (Enterprise Service Management), Poka |
| Revenue |  EUR 1 billion (2023)[2] |
| Owner | EQT,[3]TA,Hg |
Number of employees | 7,000+ (2024) |
| Website | IFS.com |
IFS AB (Industrial and Financial Systems) is amultinational enterprise software company headquartered inLinköping,Sweden. IFS has over 7,000 employees in more than 80 countries.[4]
IFS was founded in 1983 in Sweden and launched its first software productIFS Maintenance in 1985.[5] Five years later the complete product suite known as IFS Applications was launched.[6] In the next several years saw IFS expanding its presence in theScandinavian region with the establishment of offices in Norway,Finland,Denmark and then expanding outside Scandinavia intoPoland. 1993, saw IFS introduced its first graphical user interface and expanded toMalaysia. In 1995, it expanded toNorth America.
In 1996, IFS was listed in theSwedish stock exchange and the product was made into a component based one. This was followed with the launch of its web client and its establishment of an RnD center inColombo. In 2001, IFS introduced Java-based mobile clients and Internet portals. In 2004,NEC acquired a 7.7% of IFS share capital. By 2005, IFS Applications had more than 500,000 users. In 2008, IFS launched its new GUI and began several acquisitions.[7]
In 2015, IFS had reached more than one million global users and was acquired byEQT, a Swedish private equity group. IFS released its most recent ERP system, IFS Applications 10, in 2018 – the same year that Darren Roos was appointed as CEO,[8] followed by IFS Field Service Management 6 in 2019.[9][10]
In July 2020, the EQT VII fund sold IFS AB to the successor funds EQT VIII and EQT IX, and global growth private equity firm,TA Associates, which became a minority partner at a transaction value in excess of US$3 billion.[11] In March 2022, IFS announced thatHg, a leading software and services investor, would become a significant minority shareholder in IFS and WorkWave. Long-term investor EQT remains the majority shareholder, with Hg and TA Associates as significant minority shareholders. The transaction values IFS and WorkWave at $10 billion and sets both companies up to further grow their position as leading players in growing sectors.[12] In April 2024, EQT sold a $3 billion stake in IFS toAbu Dhabi Investment Authority andCanada Pension Plan.[13][14]
In April 2025, IFS launched Nexus Black, a strategic initiative focused on accelerating the adoption of Industrial AI across asset-intensive industries. The program is designed to co-develop AI-driven solutions with customers, targeting use cases such as predictive maintenance, intelligent scheduling, and autonomous decision-making.[15][16] Also in April 2025, IFS set a Guinness World Record for the longest static indoor billboard. The 304-foot-long installation at Chicago O’Hare International Airport was part of a global campaign to highlight the company’s focus on Industrial AI and the growing impact of its IFS.ai platform on its customers.[17]
IFS is governed by the company’s Executive Management Team, providing leadership and direction from a global, operational perspective. Strategically, the company has a four region focus, led by members of the Executive Management Team. These focus areas are;Southern &Western Europe,Northern &Central Europe,Americas and APJME&A.
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