Nottinghamshire software firm Ideagen has entered into a definitive agreement to acquire US-headquartered ProcessMAP.
Ideagen CEO, Ben Dorks, said: “Both organisations share a common purpose, and this provides a compelling opportunity to do more to support the safe hands and quiet voices that protect the world.
“Adding ProcessMAP into Ideagen’s existing suite of solutions builds on our combined strengths and enhances the ways we support organisations to manage their quality, health, safety and environmental needs.”
Today’s announcement will see ProcessMAP become “ProcessMAP – an Ideagen solution” with customers benefiting from Ideagen’s expertise as a regulatory software provider and access to a wider portfolio of solutions including quality, collaboration audit, and risk management. It also provides an opportunity for Ideagen to enhance its health and safety offering to the 10,000 organisations it already supports worldwide.
Dave Rath, CEO of ProcessMAP, said: “The increased importance of strong corporate ESG strategies has prompted our customers to think and act responsibly to ensure safe and ethical practices for employees and customers.
“By combining with Ideagen, we will create a category leading EHSQ software business, sharing talent, technology, innovation, and geographical reach to expand globally, leveraging each other’s infrastructure and customer base.”
ProcessMAP’s existing customers are in good company, Ideagen helps the world’s top seven aerospace and defence companies, 15 of the top 20 pharmaceutical companies, nine of the top 10 accounting firms, over 250 hospitals in the UK and US and over 300 aviation organisations globally, to protect their businesses.
Ben added: “We have, within our global footprint, a diverse mix of large corporations, small, and mid-market customers, whose need for software solutions increase as they grow in size, geographic spread, or place increasing importance on ESG reporting.
“This combination provides us with an exciting opportunity to support existing and new customers with a best-in-class health and safety solution that is appropriate to their needs and flexible enough to scale as they evolve.”
This will be Ideagen’s second acquisition of 2022 and the fifth since the summer of 2021, as it continues to strengthen its portfolio of software solutions for regulated industries.
Hg, a software and services investor, will remain as majority investor in the combined business.
Christopher Fielding, Joris Van Gool and Jean-Baptiste Brian, partners at Hg, said: “This is a significant milestone for both businesses and it’s exciting to see such strategic progress so early in our work together.
“Both Ideagen and ProcessMAP are high quality businesses, with complementary product suites and diversified regional cover across Europe, North America and APAC. Together the business will be better positioned to serve its customers and take advantage of the numerous tailwinds in regulation, compliance and ESG. We are looking forward to further expansion in the coming months.”
The transaction is expected to close in 2022 and is subject to customary closing conditions.
