Ideagen PLC Redland Acquisition Update - New Contract Wins
September 25 2019 - 2:01AM
RNS Non-Regulatory
TIDMIDEA
Ideagen PLC
25 September 2019
Ideagen PLC
("Ideagen", the "Company" or the "Group")
Redland acquisition update - new contract wins
Ideagen PLC (AIM:IDEA), a supplier of integrated risk management
software to organisations in highly regulated industries, is
pleased to announce excellent progress relating to the Redland
Solutions Ltd ("Redland") business acquired in June 2019.
Since the acquisition, Redland has performed strongly securing
nine new logo wins with a combined contract value of GBP1.2m,
including prestigious clients such as Natixis, Alexander Hall,
TPICAP and IG Group.
All new contract wins are for the supply of 'Insight', Redland's
leading Senior Management and Compliance Regime (SMCR) software and
have significantly increased the Redland SMCR customer base to 49
from 40 at the time of acquisition.
Ben Dorks, Ideagen's Chief Executive Officer, said:
"We are delighted with the progress that the Redland business
has made within such a short period of time. To win 9 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.
Enquiries:
Ideagen plc 01629 699100
David Hornsby, Executive Chairman
Ben Dorks, Chief Executive
Graeme Spenceley, Chief Financial Officer
Joe O'Brien, Investor Relations
020 7220
finnCap Limited 0500
Henrik Persson, James Thompson (Corporate
Finance)
Alice Lane (ECM)
020 7523
Canaccord Genuity Limited 8000
Simon Bridges
Richard Andrews
About Ideagen plc
Ideagen is a UK-headquartered, global technology company quoted
on the London Stock Exchange AIM market (Ticker: IDEA.L).
The Group provides software and services to organisations
operating within highly regulated industries such as aviation,
banking and finance and life science, with operational premises
spread throughout the UK, EU, US, Middle East and SE Asia.
With an excellent portfolio of software products including
Q-Pulse, Coruson, Pentana Audit, Pentana Risk and PleaseReview,
Ideagen helps its clients reduce costs, improve operational
efficiency, strengthen compliance and oversight and anticipate and
manage every detail of risk.
Currently, more than 4,700 organisations use Ideagen's products
including seven of the top 10 UK accounting firms, all of the top
aerospace and defence companies and 75% of the world's leading
pharmaceutical firms.
Ideagen's diverse and varied customer base includes many
well-known, global brands such as British Airways, Aggreko, BAE,
Ryanair, US Navy, KLM, BBVA, Bank of New York, Commerzbank,
Meggitt, Heineken, Johnson Matthey, Haeco Group and European
Central Bank. As well as this, Ideagen counts 250 hospitals across
the UK and US amongst its client base.
Ideagen directly employs over 500 members of staff and is
present in every continent globally.
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END
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