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EQT, Hg and TA-owned IFS valued at EUR 15 billion in minority stake sale, following investment from Hg, ADIA and CPP Investments

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Hg increases its stake in enterprise software provider IFS and becomes co-control shareholder alongside EQT, while existing minority shareholder TA Associates remains invested.New investors in this transaction include a wholly-owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) and the Canada Pension Plan Investment Board (“CPP Investments”)IFS continues to perform strongly, having recently surpassed EUR 1 billion in ARR while growing by more than 30% year-on-year.

STOCKHOLM, April 9, 2025 /PRNewswire/ — IFS, a leading provider of cloud enterprise software and Industrial AI applications, announces it has achieved a valuation of over EUR 15 billion following a significant pivot to AI-driven growth. The valuation comes as Hg increases its stake to become a co-control shareholder alongside EQT, with TA Associates (“TA”) remaining as minority shareholder. New minority shareholders also include a wholly-owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) and the Canada Pension Plan Investment Board (“CPP Investments”). Hg and the new investors are acquiring shares in IFS from EQT, which is selling through its EQT VIII and EQT IX funds, as well as from TA and other minority investors.

The transaction follows many successful years of growth for IFS, delivering more than EUR 1 billion in ARR (“annual recurring revenue”) last year. Total revenue for 2024 was over EUR 1.2 billion, with some of the world’s largest industrial companies choosing IFS over legacy vendors. Demand for IFS’s industrial AI capabilities has increased significantly over the past 12 months as organizations across IFS’s focus industries of Aerospace & Defence, Engineering & Construction, Energy & Utilities, Manufacturing, Telco and Service, continue to realise the rapid and transformative value that IFS.ai delivers. IFS will continue to expand its capabilities with the industrial application of generative and agentic AI, so that customers can automate workflows, improve efficiency and deliver amazing moments of service to their own customers.

Over the past year, IFS added 350 new customers including Exelon who adopted IFS to streamline asset maintenance across its energy grid, Rolls-Royce who is using IFS to transform service delivery of its Power Systems business, and Total Energies who is deploying IFS as the single platform for management and servicing of its global operated asset portfolio. Moreover, an increasing number of large businesses are moving to IFS which is reflected in the average deal size of IFS’s largest customers increasing by 64% year-on-year.

Mark Moffat, CEO of IFS, said: “IFS’s success and sustained growth is centred around a commitment and track record of rapidly delivering business value to our customers. We have a differentiated proposition that continues to drive momentum in the industrial setting, specifically with the agentic and generative capabilities of IFS.ai, which enables us to be the technology of choice for the businesses that service, power and protect our planet.” Moffat continued: “The investment and continued commitment from Hg, EQT and TA will help IFS further accelerate our journey to be the undisputed category leader of Industrial Software.”

Johannes Reichel, Partner and Co-Head of Technology in the EQT Private Equity advisory team, added: “EQT’s relationship with IFS started in 2015 and it has been remarkable to see the company’s growth since then. Starting as a software vendor focused on Northern Europe, IFS has become a global provider of enterprise solutions while embracing the power of AI for the benefit of its industrial clients. It’s a prime example of EQT’s ability to ‘run with the winners’, where we partner with management teams over the long-term to scale regional players into global champions. We are excited to work alongside Hg to continue supporting IFS through this next phase.”

Nic Humphries, Senior Partner and Head of the Saturn funds at Hg, commented: “With 20 years’ experience investing in software, we recognise exceptional businesses when we see them. Our increased investment in IFS reflects our conviction in their long-term vision and strong execution, which enables their customers’ digital transformation.” Jonathan Wulkan, Partner at Hg, added: “Since our initial partnership in 2022 alongside EQT, Mark and the team have not only delivered impressive and consistent growth but have emerged as a global leader in Industrial AI – translating the promise of AI into practical solutions that drive efficiency and sustainability for essential industries, with significant potential for continued growth.”

Naveen Wadhera, Managing Director at TA, commented: “IFS’s exceptional leadership, strong execution, and transformative AI capabilities are redefining what’s possible in enterprise software. We remain confident in the company’s vision and are excited to be part of its continued journey.”

The transaction is subject to customary regulatory approvals and is expected to complete end of Q2 2025. IFS and selling shareholders were advised by Arma Partners and White & Case, EQT was also advised by Evercore, and Hg was advised by Morgan Stanley & Co. plc and Skadden.

Contact
EQT Press Office, press@eqtpartners.com

Hg
Tom Eckersley, tom.eckersley@hgcapital.com 
Sam Ferris, sam.ferris@hgcapital.com

TA
Maggie Benoit, mbenoit@ta.com

IFS
EUROPE / MEA / APJ: Adam Gillbe, adam.gillbe@ifs.com 
NORTH AMERICA / LATAM: Mairi Morgan, mairi.morgan@ifs.com

This information was brought to you by Cision http://news.cision.com.

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Melody Party Offers Over 20,000 Songs and Adds More Than a Thousand New Tracks Monthly, Enhancing Its Online Karaoke Experience

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October 27, 2026

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SEOUL, South Korea, Oct. 27, 2026 /PRNewswire/ — Melody Party is a music social app featuring a variety of activities, including Mic Grab, Artist Mafia, and Singing Battle. Through its online karaoke feature, SING A SONG, the app brings the traditional karaoke experience online, removing time and location constraints and offering a music experience that combines real-time singing with social interaction.

SING A SONG features an extensive library of more than 20,000 songs, with over a thousand new songs added every month. Its diverse selection includes popular K-pop tracks, classic Korean songs, and karaoke favorites. The feature offers a free-use model, allowing users to start singing their chosen songs without paying a separate fee. This helps reduce the time and cost associated with visiting traditional coin-operated karaoke venues, making it easier to enjoy singing as part of everyday life.

In terms of functionality, SING A SONG supports pitch adjustment and independent volume controls for vocals and accompaniment, allowing users to customize their singing experience according to their preferences. Users can also create online karaoke rooms, invite friends to sing together in real time, and enjoy voice chat and social interaction.

By continuously expanding its song library and offering diverse music-based interactive experiences, Melody Party continues to strengthen its music ecosystem. Through SING A SONG, the platform aims to create an accessible, highly interactive online music social space.

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SOURCE Melody Party

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Drawing new strength from 20-year legacy, IAACA calls on global counterparts to join annual conference to fortify integrity

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October 27, 2026

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MARRAKECH, Morocco, Oct. 27, 2026 /PRNewswire/ — The International Association of Anti-Corruption Authorities (IAACA), an independent and non-political anti-corruption organisation with over 190 member anti-corruption authorities (ACAs) worldwide, will co-host IAACA Annual Conference 2026 in Marrakech, Morocco next month together with the Independent Commission Against Corruption of Hong Kong, China (ICAC) and the National Authority for Probity, Prevention and Fight Against Corruption of Morocco (INPPLC) to chart a path for the global graft fight and explore cutting-edge approaches to tackle emerging corruption challenges.

Themed “Building on 20 Years of Legacy: Drawing Strength from the Past, Guarding Global Integrity for the Future”, the international event will not only mark the 20th anniversary of the IAACA, but also provide a dynamic forum for IAACA members to exchange insights and enhance co-operation.

Calling on international counterparts to participate in the conference scheduled for November 25, IAACA President Mr Woo Ying-ming, who also serves as ICAC Commissioner, said that “As the IAACA marks its 20th anniversary, the conference will bring together global anti-corruption community at a pivotal moment for collective action. I anticipate that the valuable insights and new approaches generated through the international synergy will chart a resilient strategic path for us to navigate integrity risks and draw strength from our shared legacy to guard global integrity for generations to come.”

During the conference, renowned international experts from the United Nations Office on Drugs and Crime (UNODC), Basel Institute on Governance, the International Anti-Corruption Academy, and global anti-corruption and law enforcement agencies and institutions will shed light on harnessing artificial intelligence in the fight against corruption, safeguarding integrity within global climate and biodiversity frameworks and analysing global corruption measurement and systemic effectiveness.

Following the conference, the ICAC, the INPPLC, the IAACA and the UNODC will co-organise a training seminar on leveraging AI in combating corruption.

While the ICAC and INPPLC will share how AI and new technology can reshape the future of anti-graft enforcement and corruption prevention, the UNODC will provide a global perspective on using AI models in financial crime investigations and addressing the operational relevance, legal robustness and adaptability across jurisdictions.

For details of the conference and training, please visit:
https://www.icac.org.hk/icac/iaaca-morocco-2026/index.html

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SOURCE International Association of Anti-Corruption Authorities (IAACA)

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Viettel moves 100 million subscribers to home-grown cloud-native charging in three months – with zero downtime

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October 27, 2026

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HANOI, Vietnam, Oct. 27, 2026 /PRNewswire/ — Viettel High Technology Industries Corporation (Viettel High Tech), part of Viettel Group, has migrated more than 100 million subscribers and some 5,000 tariff plans at Viettel, Vietnam’s largest mobile operator, to vOCS 4.0, its in-house cloud-native charging system. The three-month cutover ran on a live national network with no service disruption.

Replacing a charging system is one of the riskiest projects an operator can undertake, which is why many stick with legacy platforms. Viettel High Tech reduced the risk through real-time data synchronization, parallel running and a phased cutover, with instant rollback at every stage.

The project won the Telecom Review Excellence Awards 2026 prize for Best Technology Deployment in Asia, a first for a Vietnamese company.

What it means for operators:

Scale: more than 300,000 transactions per second at latency below 5 milliseconds, across 2G–5G and fixed services on one platformLower cost: up to 50% less hardware investment than the previous generation, by sharing infrastructure with the networkAgility: new tariff plans in hours instead of days, new features three times faster and deployments about 30% fasterResilience: two active data centers about 2,000 km apart and automatic recovery in under two minutes

Viettel High Tech developed every core layer in-house, from a telecom-grade cloud-native platform and NFV-MANO orchestration to real-time charging, subscriber and balance management.

“Passing rigorous tests of real-time self-diagnosis and self-recovery is what allows an operator to keep its promise of 24/7 service to customers,” said Luu Manh Ha, CEO of Viettel Networks, which operates the system on Viettel’s network in Vietnam. “Above all, owning the charging system means an operator is not dependent on foreign vendors – it safeguards digital sovereignty and preserves business flexibility.”

“The charging system is where an operator’s business strategy turns into revenue in real time,” said Nguyen Minh Quang, CEO of Viettel High Tech. “We believe vOCS 4.0 is ready to help operators worldwide capture the value of 5G and digital services.”

In 2017, vOCS 4.0’s predecessor, vOCS 3.0, replaced a foreign vendor’s platform for 90 million Viettel subscribers. Across both generations, vOCS serves more than 220 million subscribers in 11 countries. Viettel High Tech now offers vOCS 4.0 to operators worldwide.

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SOURCE Viettel Group

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