Ideagen agrees £15.8m deal for Redland Business Solutions
Ideagen has announced that it is buying Redland Business Solutions for £15.8m. Redland is a regtech SaaS company which supplies software to the financial services sector. The firm currently generates c. £4.2m in revenue, with c. £3m of that recurring. Its clients include seven FTSE 100 and two Fortune 500 firms. The deal builds on Ideagen’s acquisition of audit management software provider Morgan Kai Group for £20.5m late last year.