London, England-based IFS has finalized its $1-billion transaction to buy Vancouver's Copperleaf Technologies Inc.
Courts, shareholders and regulators all approved the deal, which saw the enterprise cloud and industrial AI software company acquire all outstanding shares in Copperleaf for $12 per share.
Copperleaf specializes in AI-powered asset-investment planning and management software for businesses.
IFS has committed to develop and invest in Copperleaf's operations in Vancouver, and Copperleaf said in June, when the deal was announced, that it "expects that those teams will remain central to the future strategy of the combined organization."
The B.C. firm's technology empowers businesses with significant capital investments to improve decision-making processes. Copperleaf Technologies uses advanced decision-making analytics to enable organizations to best allocate capital, manage risks and make data-driven decisions.
The Vancouver Airport Authority, for example, became one of Copperleaf's clients earlier this year in what was good news for Copperleaf, which had seen its share price decline and then hold steady following the company bursting out of the gate with an initial public offering in October 2021.
That IPO saw Copperleaf reach what investors call "unicorn" status, or a start-up company that has reached a valuation more than US$1 billion.
Its valuation after that Oct. 7, 2021 IPO was about $1.3 billion, or around US$1 billion. It briefly saw its share price rise from there.
