IFS, the global enterprise applications company, has signed an agreement with the owners of 360 Scheduling Ltd. to purchase 100% of the shares of the company. The purchase price will be paid in cash. The acquisition will further strengthen IFS' market position in the targeted industry sector Service & Asset, especially mobile workforce management.
360 Scheduling, based in Nottingham (UK) and with sites in France and the U.S.A., is a provider of mobile workforce scheduling and optimisation software. The company offers 360 Scheduling, a highly scalable SOA optimisation framework which delivers very advanced mobile workforce scheduling for both on-premises and "cloud" (software-as-a-service) deployment.
High-quality field service is key for IFS customers owning or supporting capital assets. 360 Scheduling enables these businesses to meet delivery commitments, substantially reduce costs and achieve operational control of their field service workforce.
360 Scheduling has an attractive customer base of more than 45 customers in the UK, France and the U.S.A. IFS intends to offer the 360 Scheduling product both as an integrated part of IFS Applications and as a standalone solution. Economy of scale and synergies will be realised by 360 Scheduling utilizing IFS' international infrastructure as well as having similar industry focuses.
The company generated net revenue of 2.7 million, of which more than 90% is product revenue, and EBITDA amounting to 0.4 million in the financial year ending August 31, 2010.
"With the acquisition of 360 Scheduling, 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 Service & Asset industries, and especially mobile workforce scheduling, is a market in which 360 Scheduling is one of the market leading and most respected suppliers, and where IFS seeks to achieve a market-leading position with its excellent customers and deep industry knowledge," Alastair Sorbie, IFS CEO said.
Laurent Othach, CEO at 360 Scheduling, said, "IFS, with its international presence, strong position in service & asset management and customer-focused culture is an ideal fit with 360 Scheduling. My team and I very much look forward to joining IFS and continuing to accelerate the growth of the mobile workforce management business".
IFS Europe West will be responsible for integrating 360 Scheduling, and Managing Director Paul Massey looks forward to welcoming both new customers and employees onboard.
"We have a strong cultural fit, both organizations being customer-driven and committed to delivering flexible, component-based solutions that respond to the changing needs of our targeted industries. We also look forward to including companies such as Telsource, Group 4 Securicor, Cubic Transportation Systems and a&o systems in our customer base," Paul Massey said.
The Service industry is one of IFS' targeted vertical market segments. The company offers a complete and integrated business solution that manages the entire lifecycle of customers, contracts, machines and equipments. With IFS Applications, companies can support and improve business processes by collaborating more closely with customers, suppliers and subcontractors. IFS Applications includes functionality for resource scheduling and optimization, installed base management, spare part management, mobile solutions for field work force, call and case management including SLA, all integrated with financials, procurement, manufacturing and HR. Existing IFS customers in service industry include Hertel, Debut Services, Niscayah, eps, Schultess Maschinen AG, Dalkia, Anticimex, Eltel Networks, Infratek, Gilbarco Autotank and Tomra.