Ideagen continues storming acquisition trail with £6.8m English takeover

Ideagen, the Aim-quoted software group with a major presence in East Kilbride, has acquired an English brand for £6.8 million.

The company has snapped up West Sussex-based Workrite, a brand specialising in health and safety and display screen equipment training and e-learning.

Workrite currently generates around £1.8m in annual revenues and will add more than 500 clients, including Credit Suisse, London Stock Exchange, Panasonic, Kings College London and The Law Society, to Ideagen’s existing customer base.

The English brand, which has 16 staff, was formerly part of ergonomics firm Posturite.

The move continues Ideagen’s string of takeovers, which last year included the acquisition of Redland Business Solutions in a deal worth almost £16m.

Ideagen chief executive Ben Dorks, said: “Workrite offers a suite of e-learning solutions to ensure companies can keep up to date with current regulations relating to health and safety at work.

“Adding Workrite to our business strengthens our offering in the specific area of health and safety compliance and complements our existing Ideagen Academy and Q-pulse products.

“This acquisition is a continuation of our strategy to grow by a combination of geographical and sector expertise.”

In January Ideagen posted half-year revenues of £27.3m, marking a 30 per cent surge year-on-year, along with adjusted pre-tax profits of £6m.

Ian Fletcher-price, CEO of Posturite, added: “The global reach, extensive client base, and expert marketing capabilities of Ideagen will ensure Workrite’s fantastic suite of software products will get the attention and recognition they deserve.”