The acquisition, which was initially announced in October, will see both companies’ footprint grow within the field service management space.
Currently, IFS has around 10,000 customers, 8,000 of which work in service management.
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“Field service management is rapidly becoming a strategically important capability for any business trying to link products with customers—and strengthen customer relationships,” said Constellation Research‘s Nicole France.
“With the acquisition of Astea, IFS has strengthened and deepened its ability to help customers innovate in field service and service management.”
Following completion, IFS’s Service Management Business Unit President, Marne Martin, will assume leadership of Astea International, while Astea’s founder, Zack Bergreen, will become IFS’s senior adviser.
“Zack and the management team have built a well-established and respected business in Astea,” said IFS President Martin. “We are very pleased to leverage their expertise and skills to benefit our collective customer base.
“The service management sector continues to grow at pace, faster than that of many other line-of-business applications, and we are in an enviable position in being able to offer our customers the most technically advanced and engaging solutions.
“This focus will enable customers to use service execution across the entire service lifecycle to create a competitive advantage in how they deliver customer experience and grow their revenue.”
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IFS’s license revenues have grown massively over the past year, rising by 119% between H1 2018 and H1 2019.