25th Sep 2019 14:23
(Alliance News) - Ideagen PLC on Wednesday said its recently-acquired Redland Solutions Ltd unit has secured GBP1.2 million worth of contracts.
The risk management software supplier said Redland has secured nine new logo wins from clients including online trading firm IG Group Holdings PLC, French investment bank Natixis SA and interdealer broker TP ICAP PLC.
The contracts, worth a total of GBP1.2 million, extended the customer base of Redland's Insight compliance software to 49 from 40.
Chief Executive Ben Dorks said: "We are delighted with the progress that the Redland business has made within such a short period of time. To win nine new high quality customers within the first 3 months following the acquisition is a clear indication of our leadership position within this high growth market and demonstrates the combined value of Redland and Ideagen."
Ideagen acquired software-as-a-service company Redland for GBP15.8 million in June.
Shares in Ideagen were 2.4% higher at 149.00 pence each in London on Wednesday afternoon.
By Eric Cunha; [email protected]
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