Information Management software company Ideagen said it has acquired cloud-based collaboration software company Huddle for £28.1 million.
Huddle is a SaaS-based secure content collaboration and workflow solution with customers including Baker Tilly, the National Audit Office, EDF Energy, Department of Defense (DoD), UK Home Office and multiple NHS trusts.
Ideagen expects that the acquisition will add revenue of approximately £11 million and a contribution to the group's adjusted EBITDA of £3.5 million in the year to 30 April 2022.
David Hornsby, executive chairman of Ideage, said: ‘We are delighted to announce the acquisition of Huddle. It has a resilient business model, a quality customer base, outstanding technology and a strong team.
‘Huddle will be an important product for Ideagen as we integrate the software with PleaseReview to deliver a broader and deeper document collaboration and compliance proposition to our customer base and accelerate ARR growth.’
At 1:34pm: (LON:IDEA) Ideagen PLC share price was 0p at 227.5p
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