A successful software company based in Ruddington Fields Business Park has announced the acquisition of a high flying American inspection software provider – for a cool seven million dollars!
Ideagen Plc, which employs around 400 people and has its Head Office at Ergo House on Mere Way, has bought North Carolina based InspectionXpert – which is said to currently generate $2.8million in annual revenue. The move will bring in more than one thousand extra clients – like Boeing, Kohler and Pratt & Whitney – to add to Ideagen’s already impressive portfolio including Heineken, the NHS, Jaguar Landrover and British Airways!
Speaking at this week’s International Manufacturing Technology Show in Chicago, Ideagen CEO, Ben Dorks {top right} of the Ruddington firm said: “As well as significantly enhancing our manufacturing supply chain product suite, the acquisition of InspectionXpert provides Ideagen with a fantastic opportunity for growth by broadening upsell and cross-selling opportunities, increasing our customer footprint and expanding our geographical reach.”
InspectionXpert’s products, InspectionXpert and QualityXpert, are designed to enable organisations in the precision manufacturing industry and associated supply chains to simplify inspection planning, execution and reporting and general quality through digitalisation of paper-based processes.
Jeff Cope {top left}, Founder of InspectionXpert, will join the Ideagen Group as Senior Product Manager for InspectionXpert and QualityXpert. He added: “When I developed the initial InspectionXpert programme back in 2004, I was trying to address a need I saw in precision manufacturing to simplify quality inspection reporting and ensure a greater accountability over the QA chain. I am so excited that we are joining the Ideagen Group and that we will now be able to introduce our products to a range of new clients across the globe.”
Next InspectionXpert and QualityXpert will be integrated into Ideagen’s existing software suite, which they claim will enhance Software as a Service (SaaS) revenues and provide excellent opportunities for future growth.
Mr. Dorks added: “The acquisition of InspectionXpert demonstrates Ideagen’s commitment to our US growth strategy with $15 million invested in the US this year. We have more new logo wins in this region than anywhere else in the world and this market will continue to be a strategic focus for us. As a UK company, it is important for us to both supply and invest in the US, in order to support our global growth plan.”
{Photographs courtesy of Ideagen}
