9th Mar 2021 12:05
Ideagen PLC - Nottinghamshire, England-based information management software provider for regulated industries - Acquires quality, health, safety and environmental compliance software supplier Qualtrax Inc for USD14.9 million in cash. Notes Qualtrax currently employs 40 people from its office in Blacksburg, Virginia, which will become Ideagen's new US headquarters. Says the acquisition will "strengthen and consolidate Ideagen's operations in this core growth geography, which already accounts for around 35% of group revenue."
"Qualtrax brings a high quality customer base, strong growth, a high level of recurring revenue and also bolsters our platform for expansion in the US," says Chief Executive Ben Dorks.
Current stock price: 274.93 pence, giving Ideagen a market capitalisation of GBP693 million
Year-to-date change: down 1.8%
By Zoe Wickens; [email protected]
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