At the beginning of October, 360 Scheduling, based in the UK, became Corum's latest client to successfully sell, in this case to the UK subsidiary of the Swedish company, IFS. 360 has some great Mobile Resource Management technology, solving the largest and most complex scheduling problems, computing optimal solutions in real-time. Their latest release is fully implemented in the Cloud.
Corum's instructions were to find a partner that could best support the existing team as they turn world-beating technology in to a world-leading solution.
IFS is that partner. Its ERP solution has 2,000 customers across Europe, the Americas, Africa and Asia; it has significant capital resources; there is a great cultural fit with 360; and a shared vision for the development of Mobile Resource Management.
With its Cloud solution, 360 Scheduling generated a lot of interest from strategic and financial partners. Some of that interest converted into channel sales opportunities. With the rest, Corum was able to create a competitive global auction that resulted in IFS clearly being seen as the right future partner.
All in all, this was a classic Corum sale, completed in just under one year. A great company and an outstanding executive team have been acquired by a well-matched strategic buyer. The 360 Scheduling management team is now focused on delivering on the potential of the technology, within the supporting IFS group. It was a privilege to work with them and they have my very best wishes as they continue to build on what they have already achieved.
Read the Corum press release on the 360 Scheduling deal.