Ideagen, a specialist in compliance software for regulated industries, has secured an investment from Hg, a leading software and services investor.
Following a positive shareholder meeting on 23 June, 2022, which showed support for Hg’s offer for the business, Ideagen has now delisted from on the London Stock Exchange’s Alternative Investment Market.
Established in 1993 and headquartered in Nottingham, UK, Ideagen’s software helps companies comply with regulation and manage risk. It is a leader in the $30 billion-plus regulatory and compliance software sector, serving highly regulated industries such as life sciences, healthcare, banking and finance and insurance.
The Ideagen Board selected Hg as a recommended partner due to a strong cultural alignment, as well as recognising Hg’s over 20 years’ industry leading experience in building and rapidly growing innovative software businesses, including across the legal and regulatory compliance software sector. Ideagen represents Hg’s 15th investment in this specific sector, having invested over c$3 billion of capital to date.
As part of the deal Chris Bayne will join the Ideagen board. Bayne currently serves as CEO on the management team of Access Group, one of the largest UK-headquartered software businesses.