Copperleaf Technologies Inc. (TSX: CPLF) (“Copperleaf”) announced today that it has entered into a definitive arrangement agreement with Industrial and Financial Systems, IFS AB (“IFS”). Under this agreement, IFS will indirectly acquire all issued and outstanding common shares of Copperleaf for $12.00 in cash per share. This consideration values the total equity of Copperleaf at approximately $1.0 billion on a fully diluted basis.
The offer represents an 18% premium to the closing price of Copperleaf shares on the Toronto Stock Exchange (TSX) as of June 10, 2024, and a 66% premium to the 90-day volume-weighted average trading price of the shares on the TSX as of the same date. Additionally, it reflects a 70% premium to the closing price on May 3, 2024, the last trading day before IFS’s submission of its non-binding acquisition proposal.
Copperleaf is a leading global provider of AI-powered enterprise Asset Investment Planning and Management (AIPM) software. Its clients manage trillions of dollars in physical and digital assets, investing hundreds of millions of dollars annually to make strategic investment decisions. Copperleaf’s software is used by major organizations in the electricity, natural gas, water, energy, pharmaceutical, and transportation industries to optimize their investment decisions for maximum business value.
IFS, a global leader in enterprise software for Field Service Management (FSM), also holds strong positions in Enterprise Asset Management (EAM) and Enterprise Service Management (ESM). The integration of Copperleaf’s AIPM solutions with IFS’s EAM expertise is expected to provide exceptional support to their combined customer base.
Copperleaf’s success is built on the skills, expertise, and operational experience of its team and its award-winning culture. IFS is committed to further developing and investing in Copperleaf’s capabilities in Vancouver, ensuring these teams remain central to the future strategy of the combined organization.
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