Ideagen plc

finnCap have advised Ideagen, a leading supplier of Information Management Software to highly regulated industries, on their acquisition of PleasTech and £10m fundraising.

David Hornsby, CEO of Ideagen, commented:

“We are delighted to announce the acquisition of PleaseTech. Its PleaseReview software is a valuable addition to Ideagen’s product suite and is in line with our stated acquisition strategy. PleaseTech both increases Ideagen’s footprint in two of its key verticals and broadens its customer base geographically whilst providing valuable cross-selling opportunities and additional sources of recurring revenues. We are delighted to have received commitments to raise £10m, in an oversubscribed placing, to fund the acquisition from both our existing shareholder base and from new significant institutional shareholders, their support endorses Ideagen’s growth strategy.