On August 23, 2023, IFS, a global cloud enterprise software company, announced it has signed a definitive agreement to acquire Falkonry, Inc., a California-based Industrial AI software company that provides automated, high-speed data analysis to the manufacturing and defense industries. Wilson Sonsini Goodrich & Rosati advised Falkonry on the transaction.
The addition of Falkonry's self-learning anomaly detection solution to IFS's existing enterprise simulation and AI-based scheduling and optimization capabilities will further IFS’s strategy to use AI pervasively to provide end-to-end intelligent insights in EAM (Enterprise Asset Management) across ERP (Enterprise Resource Planning), MES (Manufacturing Execution System), PSO (Planning, Scheduling, Optimization), FSM (Field Service Management) and ESM (Enterprise Service Management) technology to increase people and asset productivity. IFS expects the acquisition of Falkonry to complete in Q4 2023.
The Wilson Sonsini team that advised Falkonry on the transaction includes: