Why did IFS identify Mxi Technologies as a good fit for an acquisition?
There is a very strong strategic fit for combining IFS and Mxi. The primary driver is to combine the strengths of both companies to better serve and grow our position within the global aviation and defense market. IFS wants to continue to grow in terms of product capability, customers and organizational scale--so in light of this acquisition, there is a great opportunity to build upon the company’s leadership position in the global asset centric aviation and defence industry. Mxi is also a market leader in the aviation maintenance software sector thanks to successful implementations of its Maintenix solution at many commercial airlines and defense operators. Mxi is renowned for its compliance-centric approach, which is a very good fit for IFS and offers great opportunities in addressing the market moving forward. In addition, Mxi has more than 265 employees who are predominantly located in North America, which means that IFS can rapidly expand its presence within the region.
How long did the acquisition process take?
As part of our ongoing approach to complementing organic growth with acquisitions, IFS manages a healthy pipeline of potential targets to approach. We had been monitoring Mxi for some time and in light of our growth plans, ability to execute as well as the opportunity being created by combining IFS with Mxi, we felt now was the right time to buy Mxi.
How will the integration of Mxi play out in the near term?
As IFS Applications and the Maintenix product suites are attractive to specific customers in the market, we will continue to invest in and develop both product lines. There is of course great opportunity to also integrate the two products and offer to these certain clients as appropriate. Operationally we will align our team but we will offer customers an aviation maintenance solution as a best-of-breed or as an end-to-end enterprise solution. Although IFS will invest in, market and sell both the Maintenix and IFS Applications product suites, we do intend to also provide an integrated offering.
What is the long-term objective in the aviation maintenance software segment?
IFS believes in transparency and will continue to publish its roadmap to customers. Our vision is to be the leading global enterprise software company that enables operational excellence for international companies in asset, service and product centric industries.
Will growth opportunities be centered on adding more airline customers?
Mxi and IFS are both global businesses, and the primary driver is to combine the strengths of both companies to better serve and grow our position within the global aviation and defense market. In addition, IFS will significantly increase its head count in North America and can now count some of the industry’s top civil aviation and defense organizations as part of the its client base. IFS will remain committed to existing customers and continue to grow, not only in the North American market, but across the world.