Share Prices & Company Research

Market News

14 Jan 2019 | 08:54

Ideagen acquires Scannell for £3.5m

Software company Ideagen said Monday it had acquired Software as a Service company Scannell for £3.5m.

The acquisition was expected to accelerate the group's Environmental Health, Safety and Quality (EHSQ) strategy and contribute €0.3m additional earnings (EBITDA) in the first full year of ownership.

Scannell, based in the Republic of Ireland, had approximately 100 customers including Intel, Johnson and Johnson, BT, Heineken and Coca Cola.

On a current run rate Scannell was generating approximately €1m in revenues of which €0.7m was recurring and is breakeven, the company said. 'Scannell is a valuable addition to Ideagen and is in line with our strategy of acquiring GRC businesses that have strong IP and recurring revenues. EHSQ is a fast growing market and the acquisition will significantly enhance our product and market position,' the company said.

At 8:54am: (LON:IDEA) Ideagen share price was -1p at 124.5p

Story provided by
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.