Ideagen PLC Re £4.9m Contract and Trading Update (5007S)
March 18 2016 - 3:00AM
UK Regulatory
TIDMIDEA
RNS Number : 5007S
Ideagen PLC
18 March 2016
18 March 2016
Ideagen PLC
("Ideagen," "the Company" or the "Group")
Re GBP4.9m Contract and Trading Update
Ideagen PLC (AIM: IDEA), a leading supplier of Information
Management software to highly regulated industries, is pleased to
confirm that it has now signed a definitive contract following an
Award Decision Notice as announced on 19 November 2015. The
contract is worth GBP4.9m over 5 years.
The contract is for the supply of the Group's SaaS based GRC
platform, Enlighten. Enlighten will provide an incident management
solution to over 70,000 users in the UK.
The Board is also pleased to report that trading in the second
half of the year has remained strong with full year revenues and
adjusted EBITDA expected to be significantly ahead of last year and
in line with market expectations.
David Hornsby, Chief Executive Officer of Ideagen, commented: "I
am pleased to report that the strong trading momentum as reported
in our half year results has continued into the second half of the
current year. We continue to see strong new business demand for the
Group's Governance, Risk and Compliance (GRC) products, and the
pipeline of opportunities with existing customers continues to
build.
"We are also delighted to have now received the major contract
for our recently launched SaaS-based platform, Enlighten, which is
testament to our product innovation and our ability to successfully
engage in large bids. The Board remains confident in the Group's
growth prospects."
Enquiries:
Ideagen plc 01629 699100
David Hornsby, Chief Executive
Graeme Spenceley, Finance
Director
finnCap Limited 020 7220 0500
Stuart Andrews/James Thompson
(Nomad)
Stephen Norcross (Corporate
Broking)
Alma PR
Hilary Buchanan +44 (0)7515 805218
Josh Royston +44 (0)7780 901979
About Ideagen Group plc
Ideagen is a UK company quoted on the London Stock Exchange AIM
market (Ticker: IDEA.LN). Ideagen is a supplier of Information
Management software with operations in the UK, the United States
and the Middle East. The Company specialises in eGRC (Enterprise
Governance, Risk and Compliance) and Healthcare solutions for
organisations operating within highly regulated industries. With an
excellent portfolio of software products, Ideagen is able to
provide complete content lifecycle solutions that enable
organisations to meet their Regulatory and Quality Compliance
standards, helping them to reduce costs and improve efficiency.
The Group has a customer base of over 2,200 organisations using
the Ideagen suite of products, including many blue chip names such
as BAE Systems, Emirates, Shell and the European Central Bank as
well as 150 hospitals in the UK and US.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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