IFS Acquires Mxi Technologies Ltd

IFS (Industrial Financial Systems) (STO:IFSA) (STO:IFSB)

IFS (http://www4.ifsworld.com/l/5332/2015-08-10/2qts7r), the global enterprise applications company, has today signed an agreement with the owners of Mxi Technologies Ltd (http://www.mxi.com/) ("Mxi”) to acquire the company.

Mxi is the leading provider of integrated and intelligent maintenance management software solutions for the global aviation industry. Mxi serves defense and commercial operators, third-party Maintenance, Repair and Overhaul (MRO) companies, and Original Equipment Manufacturers (OEMs) with software, support and services. Headquartered in Ottawa, Canada, Mxi is a global organization with more than 265 employees.

Mxi’s Maintenix software suite is uniquely designed to help aviation organizations maximize the revenue potential of their aviation assets through standard, lean, and predictive maintenance. Mxi’s global footprint of customers ranges from emerging and mid-sized organizations to the largest global aviation enterprises, many of whom have multi-site deployments that scale to several thousand users. The company’s blue chip customer base includes: Southwest Airlines, Air France, KLM, Qantas, China Airlines, LATAM, Icelandair, NetJets, Boeing, BAE Systems, Saab, Pratt & Whitney, and several of the world’s air forces.

Alastair Sorbie, IFS President & CEO, said, "With the acquisition of Mxi, IFS becomes a world leading provider of aviation maintenance software solutions to defense and commercial aviation operators, MROs, and OEMs. We will continue to invest in and market both the Maintenix and IFS Applications solutions for customers who want a point solution, but we also believe that an end-to-end integrated solution will be attractive to many companies in the sector. The deep aviation maintenance expertise of Mxi combined with IFS uniquely positions us to help new and existing customers achieve operational excellence. This acquisition is in line with IFS’s growth strategy and ambition to become the world’s leading provider of enterprise applications to global customers in asset, service, and product-centric verticals.”

Diogenis Papiomytis, Director of Aerospace & Defense at industry analyst Frost & Sullivan, commented, "The acquisition of Mxi Technologies by IFS makes strong commercial sense, as the two companies have complementary capabilities and products targeting commercial and military aviation organizations.” Papiomytis added: "The global scale of IFS operations, as well as its innovative culture, extensive business development, and R&D resources will allow Mxi to grow its business and implement large scale projects without compromising on customer service or product development timeframes. Furthermore, the Maintenix product and Mxi’s growing aviation and defense customer base will add substantial value to the IFS product portfolio and assist in expanding its reach beyond the already strong IFS Aviation & Defense credentials.”

The acquisition is expected to close during the first quarter of 2017.

About IFS

IFS™ (http://www.ifsworld.com/en/) is a globally recognized leader in developing and delivering enterprise software for enterprise resource planning (ERP), enterprise asset management (EAM) and enterprise service management (ESM). Founded in 1983, IFS brings customers in targeted sectors closer to their business, and helps them be more agile and prepare for what's next in their industry. IFS’s 2,800 employees support more than 1 million users worldwide from its network of local offices and through a growing ecosystem of partners. For more information visit: IFSworld.com (http://www.ifsworld.com/en/).

Follow us on Twitter: @ifsworld (http://www.twitter.com/ifsworld)

Visit the IFS Blogs on technology, innovation and creativity: http://blogs.ifsworld.com

About Mxi Technologies

Headquartered in Ottawa, Canada with U.S. headquarters in Dallas, TX, Mxi Technologies is a leading provider of integrated and intelligent maintenance management software, support, and services catering specifically to the global aviation industry, including commercial and defense operators, third-party MROs, and OEM aftermarket service providers. Mxi Technologies’ suite of Maintenix software is uniquely designed to help aviation organizations maximize the revenue potential of their aviation assets through standard, lean, and predictable maintenance. Mxi’s global footprint of customers range from emerging, small to midsized organizations to the largest global enterprises, with single to multi-site deployments that scale as high as 6,000 users in a single instance. For more information visit: mxi.com (http://www.mxi.com).

This information was brought to you by Cision http://news.cision.com

View source version on businesswire.com: http://www.businesswire.com/news/home/20161213005818/en/