Software company Ideagen Plc, which has its Head Office on Ruddington Fields Business Park, and employs around 1,200 people, has revealed it has entered into a “definitive agreement” to acquire ProcessMAP.
In June, Ideagen itself was taken over by Rainforest Bidco Limited, a newly-incorporated wholly-owned subsidiary of funds managed by Hg Capital. However, it’s continuing to trade under the Ideagen brand as an already trusted name in software solutions for regulated industries.
Speaking about the news, Ideagen CEO, Ben Dorks, said: “Both organisations share a common purpose, and this provides a compelling opportunity to do more to support the safe hands and quiet voices that protect the world. Adding ProcessMAP into Ideagen’s existing suite of solutions builds on our combined strengths and enhances the ways we support organisations to manage their quality, health, safety and environmental needs.”
Yesterday’s announcement (5th October 2022) will see ProcessMAP become “ProcessMAP – an Ideagen solution” – with its customers benefiting from Ideagen’s software know-how plus access to its wider portfolio of solutions including quality, collaboration audit, and risk management. It’s also said to provide an opportunity for the Ruddington firm to enhance its health and safety offering to the 10,000 organisations which it already supports worldwide.
Dave Rath, CEO of ProcessMAP, said: “The increased importance of strong corporate ESG strategies has prompted our customers to think and act responsibly to ensure safe and ethical practices for employees and customers. By combining with Ideagen, we will create a category leading EHSQ software business, sharing talent, technology, innovation, and geographical reach to expand globally, leveraging each other’s infrastructure and customer base.”
This will be Ideagen’s second acquisition of 2022 and the fifth since the summer of 2021, as the company, located at 1 Mere Way, “continues to strengthen its portfolio of software solutions for regulated industries”. The cost of the latest takeover has not yet been disclosed.
The transaction is expected to close in 2022 and is subject to “customary closing conditions”. Hg Capital will remain as majority investor in the combined business.
