Ideagen, a provider of quality management systems in health and care, and other industries, has announced two acquisitions to add to its product offering.
The specialist compliance software provider has completed the acquisition of Advanced Digital Systems Inc, trading as Mi-Co, for a cash consideration of £3.1m on completion.
Advanced Digital Systems Inc, based in North Carolina, USA, is a low- and no-code mobile application developer, with 150 customers in regulated industries, generating £0.9 in annual recurring revenue. Ideagen said the acquisition adds to its mobile capabilities.
In addition, the company has also completed the acquisition of OpsBase Limited, a UK-based health and safety compliance platform for a cash consideration on completion of £1.9m. Ideagen said the addition opens up a new market and opportunities for the company, with the platform being in early stages of commercialisation, and revenues to November 2020 of £0.1m.
Ben Dorks, Chief Executive Officer of Ideagen, said: “Both acquisitions underline our commitment to supporting customers operating in highly regulated environments with high quality software solutions across a range of platforms.
“Whilst relatively small in financial terms, they are both strategically compelling. They illustrate our flexible approach to M&A and our strategy of acquiring businesses that will drive Ideagen’s organic growth. We also have a strong pipeline of further M&A opportunities.”
Ideagen’s strategy is to grow geographically and by sector, and the group will now announce its preliminary full year results on 22 July 2021.