Ideagen acquires: a further step in strategy to build a leading GRC software company

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Ideagen, a leading supplier of Information Management software to highly regulated industries, is pleased to announce the acquisition of Gael Limited, authors of the well-known Qpulse product for £18million.

Ideagen Plc

Ideagen Plc

This acquisition will, undoubtedly, provide Ideagen with access to a wider range of customers and enable the Group to offer additional services to organisations based upon their requirements and strict corporate standards.

Gael Ltd, based in East Kilbride, Scotland, is a software company that has developed products, which helps organisations manage their Governance, Risk and Compliance (“GRC”) requirements. Established in 1992, Gael specialises within the complex manufacturing, aviation and healthcare sectors.

This acquisition strengthens Ideagen's position in the ”Compliance and Standards Management’’ market and significantly enhances the Group’s Risk Management proposition. It will bring significant advancements to the existing product portfolio and allow integration of Ideagen's market leading audit and compliance products to truly deliver enterprise governance, risk and compliance solutions. The acquisition provides a fully developed risk based compliance management SaaS application, “Enlighten”, that will be used as the launch-pad for further developments in the SaaS and mobile arena. Significant investment has been made in Enlighten, which was launched earlier this year. Enlighten is a cloud based SaaS solution that is delivered over the Amazon cloud platform. This product will enable the Enlarged Group’s existing customer base to migrate to cloud solutions, represents a significant growth opportunity and should enable Ideagen to win larger and higher value contracts.

Gael currently has circa 105 employees, a well dispersed customer base of over 1,000 customers, and has a number of high profile clients, including Emirates, BAE Systems, Dairy Crest and the NHS.

Ashley Marron, CEO of Gael Ltd, who will remain with the enlarged group, comments, “We are delighted that we have found a dynamic, forward-thinking, and financially strong organisation in Ideagen. This is an extremely positive development for the products, staff, and above all for our client base in order to achieve our objective of becoming a leading GRC software provider.”

David Hornsby, CEO, commented, "I am delighted to announce the proposed acquisition of Gael, which we believe will augment the Group both strategically and financially. Gael has established an extremely compelling value proposition comprising strong IP and long-term relationships with its extensive customer base, which includes over 1000 customers and 300 airlines globally. We believe the combination of Gael and Ideagen will enable the enlarged Group to rapidly develop new applications and provides an outstanding opportunity to leverage the growing risk and compliance market.”

As the pressures across all industries rise, the need for GRC systems will grow. Increasingly, highly regulated organisations are required to demonstrate that they have the tools in place to proactively monitor and assess their operations and to ensure that they can respond quickly to potential risks. These key elements will contribute to businesses delivering services to highest possible quality standards, and will require them to utilise comprehensive systems in order to achieve them.

David Hornsby adds, “This acquisition will, undoubtedly, provide Ideagen with access to a wider range of customers and enable the Group to offer additional services to organisations based upon their requirements and strict corporate standards.”

-Ends-

NOTES TO EDITORS:
Ideagen Plc is a software development business specialising in information management solutions for organisations that operate within industries that are subject to high regulatory standards. As authors of an excellent portfolio of software products, the Group is able to provide complete content lifecycle solutions that enable organisations to meet their regulatory, risk and quality compliance standards, helping them to reduce costs and improve efficiency. The Group has shown excellent growth, both organically and through strategic acquisitions, and is listed on The London Stock Exchange AIM market (Ticker: IDEA.LN).

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Dominika Jankowska
Ideagen Plc
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