M&A Deal Summary

IFS Acquires Astea International

On October 8, 2019, IFS acquired software company Astea International

Acquisition Highlights
  • This is IFS’s 9th transaction in the Software sector.
  • This is IFS’s 2nd transaction in the United States.
  • This is IFS’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2019-10-08
Target Astea International
Sector Software
Buyer(s) IFS
Deal Type Add-on Acquisition
Advisor(s) Stifel, Nicolaus & Co., Inc. (Financial)

Target

Astea International

Horsham, Pennsylvania, United States
Astea International, Inc. is a provider of service management software that addresses the unique needs of companies who manage capital equipment, mission critical assets, and human capital. The Astea Alliance suite supports the complete service lifecycle, from lead generation and project quotation to service and billing through asset retirement. Astea International was founded in 1979 and is based in Horsham, Pennsylvania.

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Buyer(S) 1

Buyer

IFS

Linköping, Sweden
Category Company
Founded 1983
Sector Software
Employees3,700
DESCRIPTION

IFS develops and delivers cloud enterprise software for companies around the world who manufacture and distribute goods, build and maintain assets, and manage service-focused operations. Within our single platform, our industry specific products are innately connected to a single data model and use embedded digital innovation so that our customers can be their best when it really matters to their customers—at the Moment of Service. IFS was founded in 1983 and is based in Linköping, Sweden.

DEAL STATS #
Overall 10 of 19
Sector (Software) 9 of 14
Type (Add-on Acquisition) 8 of 17
State (Pennsylvania) 1 of 1
Country (United States) 2 of 6
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-08 WorkWave

Holmdel, New Jersey, United States

WorkWave is a provider of an intuitive cloud-based field service management and fleet management solutions that help enterprising organizations with a mobile workforce transform their businesses. WorkWave was founded in 1984 and is based in Holmdel, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-02 Clevest Solutions

Richmond, British Columbia, Canada

Clevest Solutions, Inc. provides workforce automation software that connects the mobile workforce to office operations. Clevest Solutions is based in Richmond, British Columbia.

Buy -
Mergr

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