Just two months after its previous acquisition, IFS has closed another deal to expand its Industrial AI portfolio. The offering of supply chain specialist 7bridges will be integrated with IFS Cloud.
The acquisition price has not been disclosed, but IFS has stated that both the 7bridges team and technology will be joining the company. The startup’s current focus is on the manufacturing industry, aviation, and defense, but within IFS, this will be scaled up to more use cases and sectors.
According to 7bridges, customers can save an average of 8 percent in transportation costs and automate 90 percent of all data entry and management tasks. Critical logistics data, in whatever form, can be captured automatically.
More acquisitions
In June of this year, IFS acquired TheLoops, a startup focused on agentic AI. Since 2021, IFS has acquired two companies each year for inorganic growth, in addition to in-house innovations. This allows it to continue to grow rapidly while perhaps being a little less vocal about its AI initiatives than other IT players.
In any case, CEO Mark Moffat says he is proud to lead the world of Industrial AI. “7bridges’ unique capabilities in AI-powered supply chain optimization are a strong complement to our existing strengths and will strongly resonate with our asset intensive customers. We’re excited to welcome their talented team of experts to IFS.”
7bridges CEO Philip Ashton, in turn, says that the IFS acquisition will enable his team to transform global supply chains even faster. “With IFS’s reach and resources, we’ll bring our solution to new industries and geographies, delivering measurable impact for customers worldwide.”
7bridges was founded in London in 2016. The latest investment round took place in 2022, raising $17 million.