Thursday, July 17, 2008
IFS receives defense order
IFS Defence Ltd., of which the IFS Group own 50%, yesterday received an order to provide IFS Applications licenses and maintenance & support with an expected total value of GB£ 13.9 million over 7 years, of which approximately 70% accrues to the IFS Group. More information about the implications of the contract for IFS will be published at a later date.
IFS is a public company (OMX STO: IFS) founded in 1983 that develops, supplies, and implements IFS Applications™, a fully-integrated, component-based extended ERP suite built on SOA technology. The company has more than 2,000 customers in 54 countries and focuses on seven main industries: aerospace & defense, utilities & telecom, manufacturing, process industries, automotive, retail & wholesale distribution, and construction contracting & service management. IFS has 2,600 employees and net revenue in 2007 was SKr 2.4 billion.