Software firm in £5m double acquisition
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Ruddington software software firm Ideagen has has today announced it has made a further two acquisitions to increase its product offering.
Ideagen’s strategy has been to grow geographically and by sector expertise and these two acquisitions are very much in line with that strategy, as they significantly add to Ideagen’s product offering and capabilities.
The first acquisition, for £1.9m, is OpsBase, a UK-based health and safety compliance platform. The OpsBase platform will be a “significant” add-on to Ideagen’s existing QHSE portfolio of products.
The second acquisition, valued at £3.1m, is Mi-Co, a US-based low- and no-code mobile app developer. Mi-Co currently has c150 customers working in highly regulated industries, including agriculture, government and utilities. The deal will strengthen Ideagen’s mobile app capabilities, and the product will be deployed across Ideagen’s product suite in order to enhance the customer experience and extend product functionality. Ideagen will also continue to sell the product on a stand-alone basis.
CEO of Ideagen, Ben Dorks, said: “These acquisitions underline our commitment to supporting customers operating in highly regulated environments with high quality software solutions across a range of platforms. Whilst relatively small in financial terms, they are both strategically compelling. They illustrate our flexible approach to M&A and our strategy of acquiring businesses that will drive Ideagen’s organic growth. We also have a strong pipeline of further M&A opportunities.”