IFS was founded in 1983 in Linkoping, Sweden, by five friends at Linkoping University. The company started by building industrial software for Scandinavian manufacturers and has grown into a global enterprise software provider focused on industries where managing physical assets and field service operations is critical.
IFS Cloud is the company’s unified platform combining ERP, Enterprise Asset Management (EAM), and Field Service Management (FSM). Unlike broad-market ERP vendors that try to serve everyone, IFS focuses on industries like aerospace and defense, energy and utilities, manufacturing, construction, and telecommunications — sectors where the moment of service is what matters most.
The company’s asset management and field service capabilities are widely considered best-in-class. IFS helps organizations manage complex assets with long lifecycles — aircraft engines, power plants, oil rigs, telecom towers — tracking maintenance schedules, compliance requirements, and performance data throughout decades of operation.
EQT, the Swedish private equity firm, acquired a majority stake in IFS in 2019 and took full ownership in 2022. Under private equity ownership, IFS has accelerated its transition to cloud and made several acquisitions, including Axios Systems (IT service management) and Customerville (customer experience).
IFS serves more than 6,000 customers worldwide, including Rolls-Royce, Shell, Volvo, and the U.S. Navy. Annual revenue exceeds $1 billion, with cloud and subscription revenue growing as the fastest segment.
Darren Roos has served as CEO since 2018, succeeding a series of executives who led the company through its transition from a Nordic specialist to a global player. IFS employs more than 6,000 people across offices in over 50 countries.
