IFS expands EAM software portfolio with Ultimo acquisition

ERP vendor IFS is adding a measure of enterprise asset management with its acquisition of Ultimo Software Solutions. Ultimos EAM software enables IFS to expand its offerings to meet a big opportunity in the midmarket area, while maintaining an enterprise platform, she said. IFS acquired Ultimo primarily because of its pure cloud capabilities and small to midmarket EAM focus, according to Predrag Jakovljevic, principal industry analyst at Technology Evaluation Centers. These capabilities could also be potentially integrated into Acumatica, IFS corporate stablemate that offers cloud-based ERP for the midmarket and is also owned by the venture capital firm EQT Partners, he said. "Ultimos [SaaS application] is targeted at the primary asset management functions by smaller maintenance organizations who may not necessarily need to integrate with anything other than perhaps their corporate financial package," Stallard said.