Incorporated in December 1996, IMI started out by licensing the optical measurement technology developed by Range Vision Inc. between 1988 and 1996. The technology included products for rail measurement and coking drum inspection, and advanced camera calibration techniques. IMI has since acquired all rights to the technology.

IMI's focus is on software related to rail measurement and rail grinding. In 1997, Advanced Rail Management Corp., based in Florida, became resellers of IMI software in North America, and Conwest Trading and Consulting of Budapest started representing IMI in Europe. In 2002, Chicago's Holland Company became IMI resellers.

In 2000, IMI developed data collection software to run the ORIAN rail measurement system from KLD Labs. In 2002, IMI's RPR Office System began to use data collected by the Laserrail system from ImageMap Inc.

In 2003, IMI added data management, reporting and analysis software for geometry and GRMS data collected by a variety of track testing systems.

In 2004, IMI developed tools for rail and tie replacement planning, and the Wheel Analyst module for analyzing wheel wear and the wheel-rail interface.

In 2005, IMI developed Track Analyst Enterprise, and automated data alignment tools.
2006 saw a major revision of IMI’s Field System, adding support for the Solidtrack track geometry system from Andian Technologies in combination with KLD Labs’ ORIAN optical rail measurement. 

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