IFS, the global enterprise applications company, and BAE Systems plc announce the restructuring of their joint venture IFS Defence Ltd into a strategic relationship. All transactions are expected to be completed within 2 months.
IFS Defence was established as a joint venture by IFS and BAE Systems in 2000 to serve as their go-to-market vehicle for the military, defense, civil aviation, and asset service sectors of the global aerospace and defense (A&D) industry. Over the last 13 years, IFS Defence has played a pivotal role in a number of major implementations, supporting many of the world’s leading A&D organizations including the Eurofighter program, Her Majesty’s Naval Bases in the UK, SAAB, Lockheed Martin (in support of the British Army and the F35 Joint Strike Fighter program) and most recently Emirates.
As the joint venture has matured into a recognized market leader, IFS and BAE Systems have concluded that their future relationship will be better served through a strategic relationship.
IFS will establish a new dedicated center of excellence to lead its strategy in this area and to take full advantage of the experience and expertise developed to date. This will give IFS greater flexibility to align and deploy its global capabilities—both to improve the services it offers its customers and to explore new opportunities in the broader A&D industry e.g. aviation, and related sectors such as government and security.
This step is also in line with IFS’s focus on developing a global partner eco-system. In addition to the strategic relationship with BAE Systems, IFS intends to continue developing new alliances to expand its industry footprint.
BAE Systems and IFS are currently working towards structuring the business so that the trade, assets, and employees focused on IFS Applications will transfer to IFS in accordance with local labor laws, while the business related to Unit Maintenance Management Systems (UMMS) will be retained by BAE Systems.
IFS™is a public company (XSTO: IFS) founded in 1983 that develops, supplies, and implements IFS Applications™, a component-based extended ERP suite. IFS focuses on industries where management of any of the following four core processes is strategic: service & asset, manufacturing, supply chain, and projects. The company has 2,100 customers and is present in approximately 60 countries with 2,800 employees in total. Net revenue in 2012 was SKr 2.7 billion.
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IFS is a public company (OMX STO: IFS) founded in 1983 that develops, supplies, and implements IFS Applications™, a component-based extended ERP suite built on SOA technology.
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