Ideagen in £5.5m swoop for Mansfield rival

Ruddington-based information management software provider Ideagen has swooped for rival IPI in a £5.54m deal.

Based in Mansfield, IPI employs 17 staff and has developed ‘Visual IP’- a leading software platform providing quality and compliance reporting.

Last year IPI posted a profit of £600,000.

David Hornsby, CEO of Ideagen, said: “IPI is a valuable addition to the Group and is in line with our strategy of acquiring business that have strong IP and healthy recurring revenues. IPI 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 consolidates our position in the Aerospace and Defence, Complex Manufacturing and Life Science verticals.”