IFS Acquires Ultimo Software Solutions

Ultimo (an IFS Company) Acquires FSI Software

August 6, 2025

Healthcare Services

Ultimo, the AI-augmented enterprise asset management (EAM) business, has acquired FSI, a U.S.-based category leader in healthcare facilities and healthcare technology management CMMS software. The deal, which has been signed and closed, furthers Ultimo's U.S. expansion and brings healthcare-specific CMMS capability and customer relationships into Ultimo's AI-first EAM roadmap.

IFS Acquires Axios Systems

March 22, 2021

Software

IFS has signed a definitive agreement to acquire Axios Systems PLC, a global provider of cloud-based Enterprise Service Management (ESM) software. The acquisition strengthens IFS's Service Management capabilities by adding Axios's ITSM and ITOM functionality to IFS Cloud, expanding its end-to-end service offering for enterprise and public-sector customers.

Abrigo Acquires Integrated Financial Solutions (IFSLeaseWorks)

January 23, 2025

Software

Abrigo, a provider of compliance, credit risk and lending software for financial institutions, acquired Integrated Financial Solutions (IFS), the maker of IFSLeaseWorks, a cloud-based lease and loan origination and administration platform. The acquisition expands Abrigo’s loan origination and asset-management capabilities—adding equipment and vehicular financing functionality to its product suite and enabling broader automation for banks and leasing companies.

IFS Acquires Astea International

December 11, 2019

Software

IFS has completed the acquisition of 100% of the shares of Astea International, a global field service management software provider headquartered in Horsham, Pennsylvania. The deal expands IFS's field service management capabilities and global footprint; Astea founder Zack Bergreen will serve as Senior Advisor while Marne Martin (IFS) will lead the combined service management business.

EQT Acquires Acumatica

June 19, 2019

Cloud & SaaS

EQT VII has agreed to acquire Acumatica, a Bellevue-based cloud-native ERP software vendor, from the company's founders, management and other minority investors; financial terms were not disclosed. Acumatica will remain an independent, channel-focused SaaS business led by CEO Jon Roskill and will operate as a sister company to EQT's existing ERP portfolio company IFS to pursue cross‑pollination of R&D, go-to-market synergies and accelerated growth in the SMB ERP market.

IFS Acquires EmpowerMX

July 10, 2024

Aerospace & Defense

IFS, a global provider of Industrial AI cloud software, has acquired EmpowerMX, an AI-powered aviation maintenance (MRO) software provider based in Frisco, Texas. The deal expands IFS's aerospace & defense capabilities by adding EmpowerMX's MRO technology to IFS's Industrial AI offerings to improve maintenance efficiency, reduce turnaround times, and enhance compliance for large airlines and MRO providers.