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Ideagen PLC - information management, safety, risk and compliance software provider - Acquires email management services provider MailManager Ltd for GBP26.4 million in cash upfront, and a deferred conditional earnout payment of GBP2.8 million.
Acquisition will be funded from Ideagen's existing resources, and the company intends to integrate MailManager into its Collaboration business line.
"We are pleased to announce the acquisition of MailManager, which fits our strategy and acquisition criteria. It complements our existing Regulated Collaboration product suite, it contributes to our ARR base and it has a strong presence in key end markets where the group expects to be able to drive cross-group growth," said Chief Executive Officer Ben Dorks.
Current stock price: 274.50 pence
12-month change: down 5.3%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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