On June 11, 2024, Copperleaf Technologies Inc. announced a definitive agreement to be acquired by Industrial and Financial Systems, IFS AB, for $12.00 per share in cash. This transaction values Copperleaf at approximately $1.0 billion on a fully diluted basis. The offer represents an 18% premium over Copperleaf's closing price on June 10, 2024, and a 66% premium to the 90-day volume-weighted average trading price. Additionally, it signifies a 70% premium to the closing price on May 3, 2024, prior to IFS's non-binding proposal.

Copperleaf, known for its AI-powered enterprise Asset Investment Planning and Management software, serves major global clients in sectors like electricity, natural gas, water, energy, pharmaceutical, and transportation. The acquisition by IFS, a leader in enterprise software for Field Service Management and Enterprise Asset Management, is expected to complement and enhance their offerings.

The transaction received unanimous approval from Copperleaf’s board, which, after consulting with financial and legal advisors, deemed the deal beneficial for shareholders. The deal is structured as a statutory plan of arrangement under the Canada Business Corporations Act and includes customary conditions such as court and regulatory approvals. Significant shareholders, holding 33.3% of Copperleaf's shares, have agreed to support the transaction. The deal is expected to close in the third quarter of 2024, after which Copperleaf will be delisted from the TSX.

BMO Capital Markets and Fort Capital Partners advised Copperleaf, with Fasken Martineau DuMoulin LLP providing legal counsel. IFS was advised by Arma Partners LLP, Davies Ward Phillips & Vineberg LLP, and White & Case LLP.