04 Nov IFS acquires Clevest
IFS announces it has completed the acquisition of Clevest Solutions Inc., the leading provider of mobile workforce management and advanced network deployment solutions in the utilities vertical. This acquisition extends IFS’s leadership in service management solutions as it intensifies its focus on driving service experience. Clevest is an ideal addition to IFS with its proven utilities domain expertise, market-leading capabilities and impressive international blue-chip client bases.
The ‘moment of service’ is the point at which customers experience the quality of the company they are dealing with. Although relevant across all industries, it is critical in energy & utilities, which is driving providers to digitalize their core processes and evolve their business models to focus on customer service. Clevest has a proven record in enabling energy and water utility companies to transform not only in the way they differentiate through service, but also in how they achieve greater uptime and improve worker and community safety.
“Clevest demonstrates a clear commitment to delivering value for its customers in a key industry vertical for us,” commented IFS CEO, Darren Roos. He elaborated, “Clevest is already leveraging technology that brings unique business value to its customers, including Smart Metering, Smart Networks, Mobile Workforce Management and additional capabilities around optimization of scheduling dispatch – all with the ability to digitize core processes across the use cases that matter most to utilities. I am confident it will add value to what we already do for our customers in this space.”
Thomas Ligocki, CEO and Founder of Clevest noted, “To accelerate the global growth of the company I founded almost 15 years ago, I found in IFS the perfect strategic partner. By bringing together these two companies we will undoubtedly be able to offer the best Field Service Management, Mobile Workforce Management and Advanced Network Deployment solutions on the market. It also brings new opportunities and clear benefits to Clevest partners and customers as they seek new ways to scale globally.”
To highlight is leadership and its ambitions, IFS has maintained its stronghold on a Leader spot in the Gartner Magic Quadrant for Field Service Management Software every year since 2014. With the acquisition of Clevest, IFS will further expand its global footprint beyond its more than 10,000 customers worldwide, of which 8,000 are in service management; and IFS will also establish one of the most competitive service management offerings for the energy & utilities sector.
IFS’s service software revenue is projected to grow at 100 percent year on year, 2019-2020. For the first time in the company’s history, in the first half of 2020, over half of total revenue came from field service solutions.
Fort Capital Partners acted as financial advisor to Clevest for the transaction.
IFS develops and delivers enterprise software for customers around the world who manufacture and distribute goods, build and maintain assets, and manage service-focused operations. The industry expertise of our people and solutions, together with a commitment to delivering value to every one of our customers, has made IFS a recognized leader and the most recommended supplier in our sector. Our team of 4,000 employees and growing ecosystem of partners support more than 10,000 customers around the world challenge the status quo and realize their competitive advantage. Learn more about how our enterprise software solutions can help your business today at ifs.com.
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