IFS confirms completion of restructuring of IFS Defence

IFS, the global enterprise applications company, and BAE Systems plc confirm that the previously announced restructuring of their joint venture IFS Defence Ltd was completed on 31st December 2013.

The impact of the restructuring is as follows. The trade, assets, and employees focused on IFS Applications have been transferred into a new subsidiary of IFS, IFS Aerospace & Defence Limited. The business related to the Unit Maintenance Management Systems (UMMS) has been retained by BAE Systems. IFS has established a new dedicated center of excellence to lead its strategy in the Aerospace & Defense market going forward. IFS and BAE Systems will continue to work together and develop an ongoing strategic relationship.

About IFS

IFS is a recognized leader in providing business software to companies that aspire to become more agile. IFS uses its deep industry-focused expertise to help companies in targeted sectors increase agility in three core areas: enterprise resource planning (ERP), enterprise asset management (EAM), and enterprise service management (ESM). Founded in 1983, IFS is a public company (XSTO: IFS) with over 2,600 employees. IFS supports more than 2,200 customers worldwide from local offices and through partners in more than 60 countries. For more information about IFS visit www.ifsworld.com.

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Contact Information

Chief Marketing Officer Mark Boulton

Phone: +44 1494 428900

Contact Mark Boulton

Group Senior Vice President Business Development Fredrik vom Hofe

Phone: 46 733 453046

Contact Fredrik vom Hofe