EQT Partners, a leading investment firm with $45B (€40B) of assets under management, has announced the signing of a definitive agreement to acquire cloud-native enterprise software provider Acumatica through an investment vehicle owned by the same holding company that holds IFS AB (Industrial and Financial Systems). To further reinforce this coalition, following the closing of the transaction Jonas Persson will serve as chairman for both companies. IFS, the global enterprise applications company, and Acumatica, the world’s fastest-growing Cloud ERP provider, will serve growth industries such as manufacturing, distribution, construction, service, energy and A&D, while competing directly with SAP, Oracle, Microsoft, Infor, and Sage among others.

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