Ideagen PLC Sale of Pentana Compliance
14 Octubre 2021 - 01:00AM
RNS Non-Regulatory
TIDMIDEA
Ideagen PLC
14 October 2021
14 October 2021
Ideagen PLC
("Ideagen," "the Company" or the "Group")
Disposal
Sale of Pentana Compliance (formerly Redland Business
Solutions)
Ideagen, a leader in compliance software for highly regulated
industries, has signed an agreement to sell the trade and principal
assets of its Pentana Compliance business unit (formerly known as
Redland Business Solutions) to StarCompliance, a leading provider
of employee compliance technology solutions to the global financial
services industry.
Pentana Compliance provides solutions for the Senior Managers
Certification Regime ("SMCR") and associated training and
competency ("T&C") services, focussed on the UK market.
The Group had concluded that this offering was no longer in
keeping with its focus on global software-based solutions for QHSE,
GRC and Collaboration, and the proceeds of $21.3 million in cash
will be deployed in this strategy.
Ben Dorks, Chief Executive Officer of Ideagen, said:
"We are pleased to have found a great home for our customers and
our people who will bring great expertise, energy and capability to
StarCompliance in the UK. The division was no longer core to our
software-led offering and we look forward to reporting further
progress in coming weeks."
Enquiries:
Ideagen plc 01629 699 100
Richard Longdon, Non-Executive
Chairman
Ben Dorks, Chief Executive
Officer
Emma Hayes, Chief Financial
Officer
finnCap Limited 020 7220 0500
Henrik Persson / James Thompson
(Nomad)
Alice Lane (ECM)
Canaccord Genuity 020 7523 8000
Simon Bridges
FTI Consulting 020 3727 1000
Jamie Ricketts ideagen@fticonsulting.com
Dwight Burden
Valerija Cymbal
About Ideagen plc
Ideagen's software helps companies comply with regulation and
manage risk.
Ideagen is a leader in the GBP3 billion regulatory and
compliance software market, serving highly regulated industries
such as life sciences, healthcare, banking and finance and
insurance. Ideagen has made twenty acquisitions to build its market
leadership.
More than 5,700 organisations use Ideagen's software, including
nine of the top 10 UK accounting firms, all of the top aerospace
and defence companies and 75% of leading pharmaceutical firms.
Ideagen has a diversified customer base including blue chip,
global brands such as Heineken, British Airways, BAE, Aggreko, US
Navy, Bank of New York and Johnson Matthey, as well as 250
hospitals across the UK and US.
Ideagen is headquartered in the UK, listed on the London Stock
Exchange AIM market (Ticker: IDEA.L), and has key hubs in the UK,
EU, US, Middle East and South East Asia. For further information
please visit www.ideagen.com .
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October 14, 2021 02:00 ET (06:00 GMT)
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