AIQ Business

Business & Finance

Revenues up at Ideagen regardless of pandemic

Rising world software program supplier Ideagen has seen income climb by 16 per cent regardless of the pandemic.

The Nottingham enterprise – which introduced its audited outcomes for the yr finish April 30, 2021 – says its strategic acquisition plan, a continued transition to a SaaS mannequin and common market progress all contributed to its efficiency which is described as being ‘in step with expectations.’

Ideagen – whose merchandise make it simpler, faster and less expensive for corporations working in regulated industries to satisfy their compliance, threat and high quality, well being, security and atmosphere obligations – noticed revenues develop to £65.6 million.

Worldwide progress additionally continued, with abroad revenues now accounting for 56 per cent of complete revenues – a rise of 13 per cent. The primary markets for Ideagen are the US, Europe, south east Asia and the Center East.

READ MORE: JD Sports activities indicators 20-year lease on huge Derby warehouse

In the course of the monetary yr, Ideagen raised virtually £50 million with a purpose to fund its acquisition pipeline and accomplished three vital acquisitions – Qualsys, Huddle and Qualtrax – taking the whole variety of acquisitions Ideagen has made to 21.

And the corporate has already introduced an extra two acquisitions – and has the urge for food, funds out there and pipeline to help extra.

That is in step with the agency’s technique to proceed to develop primarily based on product growth and acquisitions that can improve its providing to prospects, pace entry to new sectors and develop the shopper base geographically.

Click on right here to enroll to the every day BusinessLive e-mail

Ideagen CEO Ben Dorks mentioned: “I’m very pleased with our efficiency prior to now yr regardless of the pandemic, which displays our sturdy place and is testomony to our dedication to changing into a SaaS enterprise.

“Our Annual Recurring Income ebook (ARR) was up 50 per cent at roughly £69.3 million, so we strategy the longer term from a place of power and look ahead to constructing on this momentum by persevering with to spend money on our individuals, develop our merchandise, and serve our prospects.

“Ideagen has a wonderful basis from which to fund continued progress and to develop a management place within the world marketplace for compliance software program for regulated industries.

“The dedication and resilience of the Ideagen crew along with the persevering with profitable execution of our progress technique give me nice confidence concerning the present yr and past.”

Source link