Holmdel-based WorkWave LLC, a provider of cloud-based field service and fleet management solutions, announced that it has signed an agreement to be acquired by Sweden-based IFS, an enterprise applications company.
The agreement will create a service management solutions business. Financial terms were not disclosed.
WorkWave said it will continue to operate independently from IFS. Also, Workwave CEO, Chris Sullens, along with its leadership team, will remain in their current roles.
“We are very excited to join the IFS team and looking forward to mutually accelerating our growth in the field service, last mile delivery and logistics industries — and beyond. Being part of IFS will greatly benefit our clients, partners, and employees,” Workwave CEO Chris Sullens said.
“We now have the opportunity to leverage the resources of a leading global service management software organization, while continuing to invest in and deliver exceptional products and services to our core clients in pest control and other field service verticals. Our combination of offerings will help service businesses of all sizes solve their operational and growth challenges through our market-leading software solutions.”
WorkWave has 260 employees, which support more than 7,300 customers who are primarily based in the U.S. IFS, which has offices around the world, currently has more than 2,700 clients and 1 million users worldwide.
“This acquisition is further evidence of how IFS is investing to extend its global leadership in service management. WorkWave, with its very strong SaaS offering and deep knowledge of how to serve SMB service businesses, complements IFS’s already leading service management offering that is used by many larger service-centric companies,” Fredrik vom Hofe, group senior vice president for business development at IFS, said.
“We can now offer the most complete, connected Service Management solutions across the full-spectrum of service organizations and service-intensive industries, globally! In addition, we have significantly strengthened our presence in North America, the world’s largest software market, meaning that the Americas is now the largest region in the IFS Group.”
The acquisition is expected to close in the fourth quarter of 2017.
“We are very pleased to have WorkWave’s CEO, Chris Sullens, and the talented WorkWave team join IFS to continue our growth in Service Management,” von Hofe said.