A business software specialist has raised more than 拢100 million to put into acquisitions and future growth.
Nottingham-based global tech firm Ideagen Plc has raised 拢103.5 million through an ordinary shares placement to build on 12 years of sales and profit growth.
The business provides global software and services to more than 7,500 customers in industries such as aviation, financial services, life-sciences, healthcare and manufacturing.
It has operations throughout the 海角视频, US, Europe, Middle East and South-East Asia, and recently announced its 25th acquisition since its admission to the Alternative Investment Market (AIM) on the London Stock Exchange.
Chief executive Ben Dorks said the new funding will help its bold ambitions to support even more customers around the world with an increased range of products and services.
He said: 鈥淭his investment marks the next stage of Ideagen鈥檚 exciting growth journey.
鈥淥ur mission is to surpass 拢200 million annual recurring revenue by April 2025 and this significant milestone will be crucial in aiding further expansion that will help diversify our portfolio of high-quality, high-performing products in the global governance, risk and compliance space.
鈥淭he ability to raise such substantial funds shows that the markets are as confident in Ideagen鈥檚 performance as we are.
鈥淭he acquisitions we have made to date have brought technology or intellectual property that enhances the functionality of our core solutions, increased our credibility and market presence, or offered opportunities for new market entry.
鈥淲e鈥檙e tremendously excited to see what the future holds for Ideagen and I look forward to our bold vision to grow both our geographical and sector expertise becoming a reality.鈥
Ideagen鈥檚 most recent acquisition was Sydney-based CompliSpace and the East Midlands group was this week recognised as one of the world鈥檚 most innovative RegTech companies.
The honour marks the second consecutive year Ideagen earned a place on the RegTech100 2022 list of the world's most innovative providers that offer cutting-edge solutions, products and services in the areas of compliance, risk management and information security.
Ideagen clients include blue chip, global brands such as Heineken, British Airways, BAE, Aggreko, the US Navy, Bank of New York and Johnson Matthey, as well as 250 hospitals across the 海角视频 and US.
