UK-based Ideagen bought Redland Business Solutions for £15.8m earlier in 2019. Since then, the risk management software company has secured £1.2m in new contracts.
Each and every new contract was for supply of Redland’s senior management and compliance regime (SMCR) program Insight. As a result, significantly increased the Redland SMCR customer base to 49 from 40 at the time of acquisition.
Ben Dorks, Ideagen’s CEO, said, “We are delighted with the progress that the Redland business has made within such a short period of time. To win nine new, high-quality customers within the first three months following the acquisition is a clear indication of our leadership position within this high growth market and demonstrates the combined value of Redland and Ideagen.”
Redland Business Solutions, based near Birmingham, UK, was acquired by Ideagen for £15.8 million in June this year.
Copyright © 2018 RegTech Analyst
