A transformational year for IFS
IFS showed outstanding growth in 2017 with license revenue up 21 percent in constant currency. This was achieved organically and by strategic acquisitions, and represents unquestionably an increase in our market share given that the underlying ERP market grew only by 8 percent.
The first transformational development in 2017 was the completion in January of the Mxi acquisition; this complement to our aviation and defense solution has increased considerably our offering and skills capability while gaining us strategic customers. In the summer, we acquired mplsystems to add advanced customer-engagement capability to our service-management offering, and also our local partner Field Service Management to consolidate our capability in the United Kingdom. We completed our largest acquisition ever in the fourth quarter, again in the service-management sector; with WorkWave, we can address the small and medium-sized businesses (SMB) market with a multi-tenanted SaaS offering, thereby opening up a new market for IFS.
Our focus on service management continued with direct investments in resources, marketing, and product development, resulting in significant sales and the securing of high-profile customers; in their latest magic quadrant, Gartner ranked IFS as the supplier in field service management with the highest ability to execute. Our push into managed cloud accelerated and in line with increased demand we have continued to invest in our offering based on Microsoft Azure. Furthermore, the partner ecosystem in which we have invested over recent years has evolved into a large and enthusiastic community that is actively supporting IFS sales and implementations across the globe.
In 2017 IFS has been truly transformed through a high level of organic and inorganic investment that has been enabled by our owners EQT. We go into 2018 stronger than ever and able to attack our target markets better equipped than ever before.
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