Swedish software firm IFS aims to make acquisitions in 2015
STOCKHOLM (Reuters) - Enterprise software maker IFS is on the hunt for acquisitions in Europe and North America and hopes to close deals this year, a top executive said on Thursday.
Last year was the first in seven that the Swedish firm made no buys. Acquisitions and strategy chief Fredrik vom Hofe told Reuters IFS had been in talks with a couple of potential candidates but without being able to agree on price tags.
"We have an active strategy on M&A and an ambition to make acquisitions," vom Hofe said in an interview.
He said deals this year would aim to strengthen IFS' existing segments - enterprise software for sectors such as defence and aircraft, energy, oil and gas, manufacturing of capital intensive products and spare parts and service.
"We're looking for ... companies with good finances, customers and products or competence that matches our four focus areas."
Those areas are complex manufacturing, advanced supply chain, projects, and asset and service intensive companies, he said.
IFS has up to $100 million in available cash but usually targets companies worth around $10-40 million (6-26 pounds), vom Hofe said-
IFS had revenues of 3 billion crowns (232 million pounds) in 2014 and over 2,400 customers worldwide.
(Reporting by Olof Swahnberg; Editing by Simon Johnson)
