Software giant Ideagen has secured new contracts worth £1.2 million following the acquisition of RegTech group Redland Business Solutions, it has emerged.
The software-as-a-service firm, based near Birmingham, was only acquired three months ago in a £15.8 million deal but it has already secured nine wins with clients including Natixis and IG Group.
All the new contracts are for Redland's Insight programme, which provides banks, insurance groups and other related professionals with senior management and compliance regime software.
Ben Dorks, CEO of Ideagen, which is headquartered in Ruddington, Nottinghamshire, said "We are delighted with the progress that the Redland business has made within such a short period of time.
"To win nine new, high-quality customers within the first three 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."
The news has come just a week after Ideagen announced Spanish aviation firm Air Nostrum would use its safety and operational risk software, Coruson. The product is already used by the likes of British Airways and Ryanair.
Fermin Tirado, chief maintenance officer at Air Nostrum, based in Valencia, said: “This is an innovative software project with Ideagen which will help to transform and ultimately enhance our quality, safety and risk management operations.”
