Ideagen (IDEA)

Sector:

IT Services

Index:

FTSE AIM 100

 148.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 172.50
  • 52 Week Low: 119.00
  • Currency: UK Pounds
  • Shares Issued: 219.81m
  • Volume: 501,532
  • Market Cap: £325.33m
  • Beta: 0.01

Ideagen acquires British SaaS firm Redland Solutions

By Iain Gilbert

Date: Monday 10 Jun 2019

LONDON (ShareCast) - (Sharecast News) - Risk management software supplier Ideagen snapped up Worcestershire-based software-as-a-service business Redland Solutions on Monday for a total gross consideration of £17.5m in cash.
Ideagen will fund the acquisition of Redland from its extended revolving credit facility of up to £28m with NatWest Bank, which carries interest at 2% over London Interbank Offered Rates and was secured by debentures and guarantees over its assets.

A further £500,000 will be payable in 12 months based on certain accounting rate of return targets being achieved.

Redland, a fast-growing, profitable RegTec SaaS company supplying software to the financial services industry, provides banks, investment managers, asset managers and insurance companies with solutions and has offered up its Insight platform to over 40 organisations, including 7 FTSE 100 and 2 Fortune 100 groups.

Chief executive David Hornsby said: "Redland is an extremely valuable addition to the group and is in line with our strategy of acquiring integrated risk management businesses that have strong IP and growing recurring revenues.

"Financial Services is an important vertical market for Ideagen and the combination of Redland's Insight platform with Ideagen's Pentana will provide a compelling proposition covering internal audit, risk management, certification and SMCR compliance"

As of 0900 BST, Ideagen shares had crawled ahead 2.785 to 148p.

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Ideagen Market Data

Currency UK Pounds
Share Price 148.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 172.50
52 Week Low 119.00
Volume 501,532
Shares Issued 219.81m
Market Cap £325.33m
Beta 0.01

Ideagen Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
95.03% below the market average95.03% below the market average95.03% below the market average95.03% below the market average95.03% below the market average
96% below the sector average96% below the sector average96% below the sector average96% below the sector average96% below the sector average
Price Trend
68.82% above the market average68.82% above the market average68.82% above the market average68.82% above the market average68.82% above the market average
66.97% above the sector average66.97% above the sector average66.97% above the sector average66.97% above the sector average66.97% above the sector average
Income
95.5% below the market average95.5% below the market average95.5% below the market average95.5% below the market average95.5% below the market average
95.12% below the sector average95.12% below the sector average95.12% below the sector average95.12% below the sector average95.12% below the sector average
Growth
75.40% above the market average75.40% above the market average75.40% above the market average75.40% above the market average75.40% above the market average
75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Ideagen Dividends

  Latest Previous
  Final Interim
Ex-Div 07-Nov-19 28-Feb-19
Paid 26-Nov-19 20-Mar-19
Amount 0.19p 0.090p

Trades for 16-Sep-2019

Time Volume / Share Price
16:49 6,700 @ 146.96p
16:49 6,700 @ 146.96p
16:49 6,700 @ 146.22p
16:49 6,700 @ 146.22p
15:24 3,010 @ 147.30p

Ideagen Key Personnel

CFO Graeme Spenceley
CEO Ben Dorks
COO Barney Kent

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