Foresight Group has sold MPLSystems Limited (MPL) to Industrial and Financial Systems, IFS AB (IFS).
MPL is a provider of customer and field service technology in Europe, offering a wide range of innovative customer contact technologies, customer engagement CRM and field service management software, all provided on an omni-channel basis. When combined with IFS’s leading service management offering, the Company will be able to deliver a full end-to-end customer engagement solution to customers worldwide.
Foresight has been a supportive shareholder over a number of years. Since Foresight’s first investment, revenue from the technology part of the Company has grown by circa 800 per cent with two thirds of revenue now comprised of recurring, software as a service revenue.
Lizzie Ryan, Investment Manager at Foresight Group, says: “MPL has defined itself as a leading provider of omni-channel contact centre and customer engagement software. We are delighted to have been a long-term investor in MPL, enabling the Company to grow. We believe that IFS’s complimentary offering will support the company’s further growth, with a number of synergistic and cross-selling opportunities.”
Paul White, CEO at MPLSystems says: “Foresight have been incredibly supportive, as we have built MPL into the award winning and well recognized business that it is today. We are now looking forward to the next chapter as we take our solutions onto the world stage with IFS.”