Notts software firm makes £6.2m swoop for US counterpart

David Hornsby stands down as chairman

Ideagen, the Ruddington software firm which supplies to to highly regulated industries, has bought US-based Medforce Technologies for £6.2m.

The deal is Ideagen’s first foray into the US market.

Medforce is software company which has developed the Center suite of enterprise information management, workflow and compliance software. Center is used by over 300 US-based healthcare customers including a number of Fortune 500 companies to support business process productivity and legal compliance.

The company currently employs 29 staff, and posted revenues last year of £3.7m

David Hornsby, chief executive of Ideagen, said: “Medforce is a valuable addition to the Group and is in line with our strategy of acquiring business that have valuable IP and strong recurring revenues. Medforce has established an extremely compelling value proposition and brings to the Group a complementary solution offering, a talented workforce and long-term customer relationships which further strengthens our position in the US Healthcare market.”

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