Ideagen swoops again with £60m Aussie acquisition

Ruddington-based software developer Ideagen has acquired Australiam firm CompliSpace in a deal worth £60m.

Founded in 2007, CompliSpace, which turns over around £10m a year, is a provider of SaaS-enabled governance, risk and compliance (GRC) management solutions to private and public sector customers. CompliSpace’s principal focus is in the education and social care sectors – a key sector for Ideagen. CompliSpace serves more than 950 clients in Australia including more than 730 schools and 135 aged care facilities across the country.

CompliSpace’s CEO, David Griffiths, will join Ideagen as regional SVP.

Ben Dorks, CEO of Ideagen, said: “The acquisition of CompliSpace delivers three clear strategic objectives for Ideagen – a complementary commercial offering with a compelling growth opportunity, a strong footprint in a new geography, and enhances our ARR.

“We see a significant opportunity to leverage CompliSpace’s Australian footprint with our existing product suite, whilst also expanding its customer base into Europe and North America – in line with our strategy to grow both our geographical and sector expertise.”

“We are very excited to add CompliSpace to our business. The acquisition reinforces our strategy of supporting customers operating in highly regulated environments with high quality software solutions across a range of platforms.

“We look forward to providing further information on the group’s performance and prospects in the forthcoming trading update.”