ADIA to invest in EUR 15 bn industrial AI firm IFS: A subsidiary of the Abu Dhabi Investment Authority (ADIA) has agreed to acquire a minority stake in IFS, a Swedish AI-focused software developer, according to a press release (pdf) out yesterday. The transaction will also see private equity firm HG Capital raise its stake to co-control status alongside EQT, and the Canada Pension Plan Investment Board will join ADIA as a new minority investor, while TA Associates remains on board. Reports of the potential acquisition first came in March.

The details: While no investment ticket size has been disclosed, the transaction values IFS at over EUR 15 bn (c. USD 17 bn), and it is expected to close by the end of 2Q 2025, subject to regulatory approvals. IFS’s valuation has been driven by surging demand for its AI-driven applications across sectors including aerospace, defence, construction, energy, and telecoms, the press release reads.

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