Ideagen, the supplier of quality, safety, audit, performance and risk management software to highly regulated industries, has just recorded its eighth year in a row of revenue and EBITDA growth.
The UK-based organisation, which has offices in Dubai, the United States and Bulgaria and operates a global partner network, has published its unaudited preliminary results for the year ended 30 April 2017. In that report, Ideagen confirms the business has increased revenues by 24% to £27.1 million. Adjusted EBITDA rose 26% to £7.9 million, while underlying organic growth remains at 10%.
The company witnessed success in its Software-as-a-Service (SaaS) business, where revenue increased by 133% to £4.8 million. Ideagen’s management said that success was down to significant investment in Ideagen Coruson, the company’s cloud-based Governance, Risk and Compliance (GRC) platform.
The Group’s acquisition strategy – which last year saw the purchase and integration of Covalent, IPI, PleaseTech and Logen to add further IP, customers and recurring revenue – has also exerted a substantial impact.