A high-flying software company based in Ruddington Fields Business Park – which has become well known for its multi-million pound acquisitions of other companies – has revealed that it has now itself been acquired.
Ideagen Plc, which employs around 400 people, and has its Head Office at Ergo House on Mere Way, has been taken over by Rainforest Bidco Limited, a newly-incorporated wholly-owned subsidiary of funds managed by Hg Capital. The acquisition follows an initial offer in April, and was implemented by means of a court-sanctioned scheme of arrangement. The full results announcement is available >>HERE<<.
Speaking following the outcome of the vote, Ideagen CEO, Ben Dorks {pictured top} 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.”
Mr Dorks continues: “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.”
Hg is undoubtedly a leading software and services investor with more than 20 years of industry experience in building and rapidly growing innovative software businesses, including UK-based businesses such as IRIS Software Group and The Access Group. It provides technology experience and dedicated operational support to management teams looking to scale and has a current portfolio of over 45 software and technology businesses, representing over 55,000 employees globally, with a track record of successfully scaling businesses in the UK. Ideagen has now become part of that portfolio.
Christopher Fielding, Joris Van Gool and Jean-Baptiste Brian, Partners at Hg, said: “We are delighted that Ideagen’s shareholders have voted in favour of this partnership with Hg. We have long recognised Ideagen as a high-quality software business and are excited about the future.”
They add: “Ben and the team will now have greater flexibility to execute and accelerate longer term growth plans, including investments in product, technology, talent and large scale, 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.”
Whilst the acquisition is being hailed as very good news for Ideagen, only time will tell exactly what effect the new ownership will have on the firm’s workforce and operations here in Ruddington.
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{Photograph/images courtesy of Ideagen}
