The pending purchase follows the IFS June acquisition of Poka, which makes which makes software for training and managing factory and field workers. “The combination of Falkonry and Poka with IFS Cloud makes IFS "the most compelling vendor for organizations wanting to establish the most progressive and effective Smart Factories of the future,” IFS said in announcing the agreement. IFS CEO Darren Roos noted Falkonry’s focus on segments such manufacturing, but added, “We see a really broad addressable market to capitalize on.” Based in Cupertino, Calif., Falkonry markets the Time AI Suite, which utilizes machine and sensor data for analyzing factor operations. The company is described as providing an “AI-based, self-learning solution continuously monitors large volumes of data for assets, machines, systems, and industrial processes to discover and analyze unusual behavior and causes of failures”.
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IFS TO BUY AI BIZ FAKLONRY Featured
ERP Software vendor IFS intends to acquire Fakonry, which makes AI-based data analysis software for the manufacturing and defense industries. Terms were not disclosed for the deal, which is expected to close in the fourth quarter.