Ultimo, an IFS Company, Accelerates US Growth with Acquisition of FSI Software

Enterprise asset management company's second U.S. acquisition in 12 months expands healthcare innovation capabilities and deepens commitment to the region 

ITASCA, Ill., Aug. 6, 2025 /PRNewswire/ -- Ultimo, the AI-augmented enterprise asset management (EAM) software company, today announced it has acquired FSI, a U.S.-based category leader in healthcare facilities and healthcare technology management software. This acquisition marks Ultimo's second in the U.S., its third overall since 2024, and reflects its strategic commitment to the region's long-term growth.

FSI has the only computerized maintenance management system (CMMS) platform purpose-built for healthcare service professionals. Its solutions span digital transformation, data management, and in-person asset discovery - serving over a thousand departments across hospitals, healthcare systems, and universities.

"Hospitals and healthcare operators are under pressure to digitize fast, stay compliant, and drive down risk in environments where asset performance directly impacts patient care," said Steven Elsham, CEO of Ultimo. "By bringing FSI's trusted capabilities together with Ultimo's EAM capabilities and AI-first vision, we're delivering a suite of solutions and intelligence customers need to take control of their assets, reduce operational friction, and drive measurable impact."

The acquisition builds on Ultimo's long-standing expertise as the market leader in healthcare asset management in the Netherlands and Belgium and unlocks a deeper presence in the U.S.'s asset-intensive industries. Ultimo will continue the investment to drive market leadership for FSI, with a focus on providing stability for FSI customers.

Ultimo's U.S. momentum includes the 2024 acquisition of Mainsaver and new strategic partnerships with ABS, TwinThread and Q-mation in 2025. These moves support a growing customer base, including CDF, AC Foods, Conmet, and Rockfon Chicago - and underscore Ultimo's deliberate, sustained expansion in the region.

"This is an exciting new chapter for FSI and its customers as we accelerate investment in solutions that equip customers to tackle regulatory complexity, drive operational efficiency, and accelerate digital transformation," said Zachary Seely, CEO of FSI. "Our customers will have the opportunity to access Ultimo's AI-first roadmap, including its agentic AI framework."

Fueled by relentless innovation, Ultimo was recently named a Leader in the Verdantix Green Quadrant®: EAM Software Report, earning top marks for both market momentum and product capabilities. Adding to this recognition, Ultimo also received Gartner Peer Insights' Customers' Choice designation for its EAM solution, as part of the IFS offering.

This acquisition has been signed and closed by Ultimo. For more information about Ultimo's AI-augmented approach to enterprise asset management, visit https://www.ultimo.com/ai. 

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SOURCE IFS