Today, EQT VII portfolio company IFS, announces that it has signed an agreement to acquire WorkWave - a leading provider of highly scalable, cloud-based Software-as-a-Service (SaaS) solutions for field service, last mile delivery and logistics industries.
Based in New Jersey, USA, WorkWave’s software seamlessly integrates back office, field operations and front-end marketing solutions, enabling businesses to streamline tasks such as scheduling, planning and billing, productivity, automate marketing and sales activities.
When EQT VII acquired IFS in 2015, the ambition was to further accelerate an already strong growth through selective investments in IFS' focus verticals. With the acquisition of WorkWave, IFS is increasing its global leadership within Field Service Management and is further expanding its North American footprint, making America IFS' largest geographical region.
“The management team, led by CEO Alastair Sorbie, does an impressive job strengthening IFS' leadership positions in the verticals it serves. Following the acquisition of Mxi within the IFS aviation and defense segment, WorkWave is an important milestone in realizing IFS’ global field service management and cloud strategy. The growth path that IFS has embarked on is remarkable and it is another great example of EQT’s ambition to future proof its portfolio companies", says Per Franzén, Partner at EQT Partners, Investment Advisor to EQT VII.
Read IFS’ full press release here.