Ideagen (IDEA)

Sector:

IT Services

Index:

FTSE AIM 100

191.50p
   
  • Change Today:
      0.50p
  • 52 Week High: 196.00
  • 52 Week Low: 124.00
  • Currency: UK Pounds
  • Shares Issued: 226.28m
  • Volume: 158,384
  • Market Cap: £433.32m

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 191.50p
Change Today 0.50p
% Change 0.26 %
52 Week High 196.00
52 Week Low 124.00
Volume 158,384
Shares Issued 226.28m
Market Cap £433.32m

Ideagen Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
96.14% below the market average96.14% below the market average96.14% below the market average96.14% below the market average96.14% below the market average
89.36% below the sector average89.36% below the sector average89.36% below the sector average89.36% below the sector average89.36% below the sector average
Price Trend
85.70% above the market average85.70% above the market average85.70% above the market average85.70% above the market average85.70% above the market average
63.11% above the sector average63.11% above the sector average63.11% above the sector average63.11% above the sector average63.11% above the sector average
Income
93.12% below the market average93.12% below the market average93.12% below the market average93.12% below the market average93.12% below the market average
94.74% below the sector average94.74% below the sector average94.74% below the sector average94.74% below the sector average94.74% below the sector average
Growth
77.61% above the market average77.61% above the market average77.61% above the market average77.61% above the market average77.61% above the market average
81.44% above the sector average81.44% above the sector average81.44% above the sector average81.44% above the sector average81.44% 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
  Interim Final
Ex-Div 27-Feb-20 07-Nov-19
Paid 18-Mar-20 26-Nov-19
Amount 0.10p 0.19p

Trades for 27-Jan-2020

Time Volume / Share Price
16:36 255 @ 190.00p
16:21 6,000 @ 192.00p
16:08 308 @ 190.55p
15:43 40 @ 190.55p
15:10 25,000 @ 190.50p

Ideagen Key Personnel

CFO Graeme Spenceley
CEO Ben Dorks
COO Barney Kent

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