IFS and BAE SYSTEMS announced today their intention to form a joint venture software and solutions company to target the worldwide military and civil aviation markets for logistics information systems, fleet management and maintenance, repair and overhaul systems.
When formed, the new company will bring together the BAE SYSTEMS owned Paradigm Group with certain other elements of BAE SYSTEMS and IFS. It will have a workforce of over 200 employees, annual turnover in excess of £11.5m and will expand upon the existing successes that both companies enjoy in these markets today.
The joint venture company will combine IFS's world-leading software technology with Paradigm's expertise in logistics management and BAE SYSTEMS' extensive experience in delivering sophisticated asset maintenance and logistics solutions into the military market.
Simon Dowler, Managing Director of the Paradigm Group, states the joint venture will represent a formidable combination of financial backing, world-beating technology and logistics expertise. We intend to be the pre-eminent force in these significant markets.""
Thomas Petersson VP of IFS's Europe, Middle East and Africa Division adds, "having BAE SYSTEMS as a partner provides an enormous advantage when delivering into the military and civil aviation markets."
In keeping with BAE SYSTEMS' strategy of offering solutions capability and through-life support services, the joint venture is well equipped to address emerging contractor logistics support initiatives and in so doing will be particularly supported by IFS' recent shift to out-sourced systems support and advanced e-business technology.
BAE SYSTEMS was created in November 1999 through the merger of British Aerospace Plc and Marconi Electronic Systems. It is the global systems, defense and aerospace company with annual sales in excess of £12billion; more than 100,000 employees and significant operations in nine home markets.
Industrial & Financial Systems, IFS AB, develops and supplies business applications that span the entire demand and supply chain. The company's approach to e-business allows customers to move step-by-step from their present operations to a solid e-business strategy that seamlessly integrates web storefronts, front office applications and back office operations right down to the shop floor.
The IFS business concept is to increase a company's freedom of action and competitiveness by offering integrated solutions consisting of standardized business components. IFS uses proven, third-generation component technology and it is, therefore, easy to add a wide variety of new e-business or ERP capabilities.
IFS Applications includes web-based ERP components, Internet storefronts, customer relationship management (CRM) applications, connectivity to other ERP solutions, and collaboration with process control systems with a variety of e-commerce engines. IFS Applications offers over 50 functional business components for improving business processes in medium-to-large size companies.
IFS is the world's fastest-growing company in the business applications market. The company has 3400 employees with products sold in 41 countries through 63 offices around the world.