Copperleaf Technologies announced this week that it has entered into a definitive arrangement agreement with Industrial and Financial Systems, a global enterprise software firm.
Traded publicly on the Toronto Stock Exchange since 2021, the Vancouver-based Copperleaf provides enterprise decision analytics software solutions to companies managing critical infrastructure.
IFS acquired Copperleaf for $12.00 in cash per share at a total equity value of approximately $1 billion, according to a statement from the companies, a figure in line with the company’s IPO valuation.
“This transaction is a great milestone in Copperleaf’s journey,” stated Amos Michelson, who serves as Chair of Copperleaf.
Michelson says the acquisition provides “evidence of IFS’s belief in our organization and recognition of our success, and rewards our shareholders with attractive cash consideration, providing immediate value and liquidity for their shares.”
The combination of Copperleaf and IFS “creates compelling value for the complex, asset-intensive customers we serve as well as partners, investors and employees,” agreed Darren Roos, Chair of IFS.
“Copperleaf has built an amazing global market position championing the concept of software-supported value-based asset investment planning for critical infrastructure companies,” added Paul Sakrzewski, chief executive officer of Copperleaf.
The CEO believes that IFS “deeply understands what we do and the combination of these two best-in-class companies with such complementary skill-sets and product offerings will provide the platform for an even greater opportunity to generate value for our clients, partners and employees.”
“IFS continues to build on its position as the global software leader for Asset and Service management, powered by Industrial AI,” commented Mark Moffat, who serves as chief executive of IFS.
Moffat anticipates synergy between “two companies built on the same principles: world class innovative technology with unrivalled time to value, asset, and industry expertise delivering exceptional ROI, and organizational cultures that have always put the customer at the centre of everything they do.”
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