Notts software firm make £35m double acquisition

Ideagen, the Ruddington-based software firm, has made a £35m double swoop, acquiring US firm Audit Analytics and London-based Ai XPRT.

Audit Analytics provides services whereby data is collected, organized, and analysed to support on-line market intelligence, due diligence and risk assessment tools for audit, corporate, regulatory, investment, accounting and research professionals.

Ai XPRT provides B2B solutions to the fintech and regtech sectors using its advanced technology which Ideagen says it will use to accelerate its own product development roadmap.

Ideagen has paid £33m for Audit Analytics and an initial £2m for Ai XPRT.

Ben Dorks, chief executive officer of Ideagen, said: “Today’s announcement highlights accelerated execution of our M&A growth strategy. With the acquisitions of Audit Analytics and Ai XPRT, Ideagen has enhanced its position as the only end-to-end platform for audit and compliance and accelerating the roll-out of our AI capabilities. We’ve also significantly increased our current ARR and, with our integration playbook, will achieve increased visibility of revenues and quality of earnings.”