But it did not report the actual amount of cloud revenue. IFS said recurring revenue increased 27 percent to about $232 million. The company did not report total revenue, nor earnings. IFS had a big quarter with the purchase Axiom Systems, which makes service management applications, and the launch of IFS Cloud, which the company said unified the elements of its software line.
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IFS SOFTWARE REVS UP 20 PERCENT Featured
Software revenue for Sweden-based IFS rose to roughly $301 million for the high ended June 30, an increase of 20 percent year over year. The company said cloud revenue, which represented more than 39 percent of software income, grew by 79 percent.