Shareholders at a global software firm based in Nottinghamshire office have backed the sale of the business. Ideagen, which operates in the governance, risk and compliance (GRC) sector, is set to be acquired by Hg, a leading software and services investor, in a deal that surpasses £1 billion.
In a trading update, the firm announced that the resolution was approved by the majority in a meeting held on June 23. The Scheme Shareholders who voted in favour of the deal represented no less than 75 per cent.
Ben Dorks, Ideagen CEO, said: "This is incredibly exciting news for Ideagen. Hg share our values and our ambition, whilst their operational experience in software has successfully helped businesses to accomplish their goals many times over. This new relationship will give us the ability to accelerate even faster, serve our customers better and scale our business further across the globe."
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Ideagen is based at Ergo House in Ruddington and offers software services such as safety, quality and document management. It has clients in industries including aviation, rail and retail, with Ryanair among its clients.
The firm also operates offices in Asia, USA and Scotland and runs a research and development department to allow it to continue developing innovative products. Mr Dorks added: "I want to take the opportunity to thank those at the heart of our success, including our colleagues around the globe working hard to provide trusted software solutions that help protect organisations, as well as tens of thousands of customers we work with. We are on an exciting journey of growth and progression, one that continues to deliver solutions to help improve operational efficiency, maintain compliance, manage risk and keep people safe."
Christopher Fielding, Joris Van Gool and Jean-Baptiste Brian, Partners at Hg, added in a statement: "We are delighted that Ideagen's shareholders have voted in favour of this partnership with Hg. We have long recognisedIdeagen as a high-quality software business and are excited about the future.
"Ben and the team will now have greater flexibility to execute and accelerate longer term growth plans, including investments in product, technology, talent and largescale, accretive M&A. Together we are in a great position and remain committed to ensure that Ideagen maintains and grows as a leader in the sector."
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