IFS acquires EmpowerMX and agrees to buy Copperfield
IFS has acquired EmpowerMX, an AI-powered aviation maintenance software provider specialising in Airframe Maintenance Repair and Overhaul (MRO) solutions and confirmed it has entered into a definitive agreement to buy Copperleaf Technologies Inc., provider of enterprise decision analytics software to firms managing critical infrastructure.
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The acquisition of EmpowerMX reinforces IFS’s commitment to Industrial AI and underpins the importance of industry-specific capabilities that enable customers to rapidly derive value and improve the way they serve their customers at the moment of service. For aerospace & defence customers, this translates to improving efficiencies, enhancing production control, minimising turn-around times and reducing maintenance costs.
Together, EmpowerMX and IFS will provide aerospace & defence customers with the most comprehensive and capable maintenance management system that can support multiple users in multiple roles, as well as provide well-documented, paperless governance in the form of electronic task cards and logbooks.
The acquisition will deliver more value and Industrial AI innovation to customers at a time when aviation MROs and the airline industry are experiencing multiple challenges that negatively impact profitability and operational efficiency, including supply chain disruption, labour and skills shortages, capacity shortfall, compliance and ESG reporting.
EmpowerMX’s customers will now be able to leverage IFS’s capabilities and global scale to benefit from embedded IFS.ai innovation that enables them to maximise asset availability, deliver best practices and ensure compliant delivery.
Scott Helmer, President of IFS’s Aerospace & Defense Business Unit, commented: “Combining EmpowerMX with IFS is a perfect opportunity to proactively advance our leadership position in the aviation MRO software space due to the many synergies we have: an aligned technology vision, deep sector expertise and a shared commitment to customer value. Together, we not only expand our reach and foothold into the burgeoning MRO space but we can also better serve a wider base of global A&D customers with the Industrial AI-fueled MRO innovation that enhances security, safety and efficiency.
“EmpowerMX's world-class and established customer base of leading aviation brands complements our own roster of industry leaders including Southwest Airlines, Air France KLM, Lockheed Martin and BAE Systems.”
Dinakara Nagalla, Founder & CEO, EmpowerMX, commented: “EmpowerMX has been at the forefront of technology innovation in the MRO space and I am incredibly proud of what our team has achieved with the EMX platform, products and services. We are excited to join the IFS team that will enable us to accelerate innovation and extend the value we create for MRO customers. With IFS’s global presence, EmpowerMX can help our MRO clients deliver faster turnaround, drive bottom line growth and leverage the AI capabilities we are infusing into our products.”
IFS is independently recognised as a key provider of EAM, ERP and FSM solutions for asset and service-centric industries. Within A&D, more than 310 million passengers fly safely thanks to aircraft maintained by IFS.ai.
Aly Pinder, Research Vice President, Aftermarket Services Strategies, IDC, commented: "For the aviation MRO and airline industry, digital transformation initiatives are critical to addressing operational challenges, including long turnaround times, out-of-service aircraft, and compliance adherence," said IDC analyst Aly Pinder. "As a notable company in the aviation MRO software market, IFS has helped some of the world's largest air carriers address these challenges by modernising their enterprise intelligence systems. The acquisition of EmpowerMX will complement IFS's existing cloud-based aviation maintenance solution and present IFS with an opportunity to strengthen its market position in the MRO sector."
IFS and Copperfield
As the most advanced provider of AI-powered enterprise Asset Investment Planning and Management (AIPM) software, Copperleaf offers compelling capabilities that add further depth to IFS’ position as the foremost global Enterprise Application Software provider for Asset and Service centric industries.
The combination of Copperleaf and IFS is highly complementary, offering organisations an unparalleled breadth and depth of software capabilities. Customers will have access to advanced Industrial AI-powered software to manage every element of the assets that are so crucial to their business – across their lifecycle – in order to drive efficiency and effectiveness in their operations.
Over two trillion dollars of physical and digital assets around the world are managed using Copperleaf software, which provides data and insights to help customers optimize decisions on where and when to invest in their business. Its software is relied upon by some of the world’s largest and most respected organizations in the electricity, natural gas, water, energy, pharmaceutical and transportation industries such as: ONE Gas, one of the largest publicly traded, 100% regulated natural gas utilities in the United States, Manitoba Hydro, one of the largest integrated electricity and natural gas distribution utilities in Canada and National Grid, one of the world’s largest publicly listed utilities.
Mark Moffat, CEO of IFS, commented: “IFS continues to build on its position as the global software leader for Asset and Service management, powered by Industrial AI. I am deeply excited about what Copperleaf brings to our extended customer offering. We combine two companies built on the same principles: world class innovative technology with unrivalled time to value, asset and industry expertise delivering exceptional ROI and organisational cultures that have always put the customer at the centre of everything they do.”
Paul Sakrzewski, CEO of Copperleaf, added “I am incredibly proud of the work Copperleaf has done to establish and create the business we have today. Our market-leading solution is now utilised by many of the largest and best run asset owners in the world. Our next phase of growth as part of IFS will enable us to accelerate even faster and offer customers even greater capabilities, thanks to shared values and a commitment to delivering the most advanced and commercially impactful software asset-owners could need.”
Darren Roos, Chair of IFS, added “the combination of Copperleaf and IFS creates compelling value for the complex, asset-intensive customers we serve as well as partners, investors and employees.”
Amos Michelson, outgoing Chair of Copperleaf, said: “The acquisition is recognition of the investments and many years of hard work, that have been put into making the business the success it is today. I am confident that the company’s future as part of IFS will offer opportunity and growth for all.”