2. January 2014
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.
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. More information on IFS is available at www.IFSWORLD.com Follow us on Twitter: @ifsworld Visit the IFS Blogs on technology, innovation and creativity: http://blogs.ifsworld.com/