Nottingham’s Ideagen has announced plans to strengthen its portfolio of services to organisations in regulated and high compliance industries by agreeing to acquire the US company DevonWay.
DevonWay provides compliance and operations management software to sectors such as energy and utilities, advanced manufacturing, nuclear power generation, and US national laboratories.
It is based in San Francisco and has 91 staff who are based across five offices in its home city, Salt Lake City, Portland, Charlotte as well as in Europe, the Middle East and Africa. It has around 60 customers, half of which are energy and utilities businesses.
It will be Ideagen’s fourth acquisition of 2023, following on from Qadex (now Ideagen Quality Management Food and Beverage edition), Ideagen Tritan and Ideagen OnePlace Solutions.
Ideagen chief executive Ben Dorks said: “The addition of DevonWay will provide us with a very exciting opportunity to strengthen solutions for those complex high-risk industries that may have to meet the requirements of multiple regulatory bodies.
“Chris and the team have built a great solution and have supported a loyal customer base to transform how they manage their risk, quality, safety and compliance and we believe that together we can support its global growth.”
DevonWay chief executive Chris Moustakas, said: “Joining Ideagen offers us the opportunity to scale at pace. We always knew that to take the business to the next level would require some form of investment.
“After running a highly competitive process over many months, Ideagen emerged as the clear choice.
“Their values, culture, strategic focus and existing client base make them a natural fit that is in the best interests of our customers, partners and employees. I’m incredibly excited by this next step in our journey.”
Ideagen supports the safety and sustainability of regulated and high-compliance industries worldwide. It has more than 11,400 customers, supporting their health, safety, risk, quality, audit and collaboration needs, including more than a thousand government organisations, 250 global aviation organisations, nine of the top 10 accounting firms, nine of the top 10 global aerospace and defence corporations, 15 of the top 20 global pharmaceutical companies and 65 per cent of the top 20 global food & drink companies.
It is headquartered in Nottingham, and has offices across the US, Australia, India, Malaysia and UAE, and employs more than 1,400 people.
The acquisition is expected to close on Friday 29 September, following a regulatory review by the Committee on Foreign Investment in the United States.
