IFS today announced it has agreed to acquire Falkonry, a California-based artificial intelligence software company that provides automated, high-speed data analysis to the manufacturing and defense industries.
"The addition of the Falkonry self-learning anomaly detection solution to existing IFS enterprise simulation and AI-based scheduling and optimization capabilities further evidences the company’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," an IFS statement reads.
IFS CEO Darren Roos said Falkonry "is unique in the market because its technology is agnostic and also it does not require data scientists. These are great differentiators for Falkonry that means the solution is both scalable and low-cost to implement -- two fundamental attributes that very much align to our own values.”
While it didn't disclose financial details, IFS said it expects the Falkonry acquisition to complete in the fourth quarter of 2023.