Nottinghamshire software firm Ideagen has made another acquisition.
The company has snapped up CompliancePath Holdings, the Scottish and US company which operates in software validation and assurance, focused on the healthcare and science sectors, in a deal worth up to £9m.
The deal follows the recent acqusitions of Audit Analytics and CompliSpace. Ruddington based Ideagen says it expects to report total revenue for the first half up 33% at approximately £38.8m. Recurring revenue recognised in the period grew by 41% to £34.2m, representing 88% of total revenues.
Their adjusted EBITDA is also expected to increase by 32% to approximately £13.2m (H1 2020: £10m).
The growth comes following the company’s robust performance in the first six months, which bosses say reflects the strength of their business model and the merits of SaaS, as well as the investment in people, products, and customers.