Metrix acquired by Swedish tech firm IFS
IFS, a Swedish-based business technology company with offices in Brookfield, has acquired Metrix, LLC, a business software company located in Waukesha.
Terms of the acquisition were not disclosed, but IFA announced that it has signed an agreement with the owners of Metrix to purchase 100% of the membership interests.
IMS said the acquisition would strengthen its market position in the global mobility and service management application market. Metrix, which generated $8.7 million in revenue last year, provides smart phone and tablet applications.
Part of its appeal to IFS is that it serves customers in industries such as asset and capital equipment, telecommunications, high tech and medical device manufacturing, and transportation.
Alastair Sorbie, chief executive for IFS, said with the acquisition of Metrix, IFS is investing in one of the fastest-growing sectors for enterprise applications. He noted that the research firm Gartner estimates the market penetration of advanced service management and mobility solutions is only 20% of the addressable market, with the highest demand in capital-intensive industries such as utilities and telecommunications.
IFS expects a positive earnings impact from the acquisition in 2012.