Ideagen swoops for Bulgarian firm

Ideagen, the Ruddington supplier of information management software to highly regulated industries, has made it second acquisition within a month.

The company has bought Logen, a company based in Sofia, Bulgaria specialising in the provision of audit software and related consultancy services, in a deal worth up to £200,000.

Logen is a reseller of Ideagen’s GRC audit management and risk assessment product, Pentana, with customers including the Bulgarian National Revenue Agency, the Czech National Bank and the Croatian National Bank. Logen currently employs five staff.

David Hornsby, Ideagen chief executive, said: “The acquisition will give Ideagen’s existing customers access to this expertise, as well as create a solid operational base in central Europe from which we can enhance our sales reach and future software development capacity.”

Ideagen says the acquisition will not make a material contribution to revenues or profits this financial year.