£1.8m acquisition for Nottingham software firm

Nottingham-based software firm Ideagen has acquired Optima Diagnostics, a “software as a service” (SaaS) company from London, for £1.8 million.

Optima Diagnostics – creator of the SaaS-based health and safety compliance solution OSHENS – has approximately 80 customers across highly regulated markets including aerospace and defence, aviation and energy, with Airbus, Sellafield, BAE Systems and Edinburgh Airport all using its software.

The firm is currently generating approximately £1 million in revenues.

David Hornsby, executive chairman of Ideagen, said: “Optima is a valuable addition to Ideagen and is in line with our strategy of acquiring businesses that have strong IP and recurring revenues. EHSQ is a valuable yet fragmented market and the acquisition will further enhance our market position as we aim to further consolidate this sector.”

Ideagen’s CEO Ben Dorks added: “Optima is a successful and profitable software company which will significantly strengthen our QHSE business unit.

“This is an exciting acquisition that will solidify our QHSE offering while strengthening our foothold in a strategic market for the company.

“Optima brings to the Group an impressive client base spread across several industries, many of which Ideagen currently operates in. We are looking forward to working with those clients, some of which will be new to Ideagen, whilst strengthening our relations with those that currently use Ideagen’s software.”

The acquisition will also see the company take on 11 new members of staff.