IFS sells cloud Industrial AI and enterprise software (ERP, asset management, field service) to manufacturers, asset-heavy and service-focused businesses worldwide.
IFS was founded in Linköping, Sweden, in 1983. Its main product is IFS Cloud, an AI-enabled platform covering ERP, enterprise asset management, supply chain, IT service management and field service management. It sells to manufacturing, energy, construction and other asset- and service-intensive industries, and it is private and owned mainly by EQT, Hg and TA Associates. Third-party profiles report about €1.2B in 2024 revenue, and Wikipedia lists €1.7B for 2025 (I could not verify this against a primary source). Annual recurring revenue grew 25% in H1 2026, and employee counts run from about 7,000 to over 9,000.
