Swedish enterprise resource planning software supplier Industrial & Financial Systems (IFS) is to form a joint venture with BAE Systems to create advanced logistics software for military and civil aviation markets.
The joint-venture software company will develop logistics information systems for fleet management and maintenance, repair and overhaul systems.
It will bring together BAE Systems’ subsidiary Paradigm Group with IFS Aviation, and will have more than 200 staff. Its projected annual turnover will be more than $18m (£11.9m).
The project will combine IFS’s expertise in web-enabled ERP tools for handling e-business throughout the supply chain with BAE Systems’ extensive experience in providing asset maintenance and logistics software to the military market.
Simon Dowler, Paradigm Group managing director, said it will create `a formidable combination of financial backing, advanced technology and logistics expertise’.
Thomas Petersson, IFS’s vice-president of EMEA operations, said: `BAE Systems’ expertise in military and civil aviation markets will provide an enormous advantage.’
BAE Systems was created in November 1999 through the merger of British Aerospace and Marconi Electronic Systems. It employs more than 100,000 and annual sales exceed $19bn. IFS employs about 3,400 in 63 offices.
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