Ideagen plc (AIM:IDEA), a UK-based global software firm, acquired Morgan Kai Group Ltd, an audit management software provider to both public and private sector organzations, for £20.6m.
With operations in Leeds, Yorkshire, and Chicago, Illinois, Morgan Kai Group provides an Internal Audit application in the form of ‘MKInsight’. The software is used across a number of highly regulated vertical markets including Public Sector, Banking and Finance, Engineering, Healthcare and Energy. It currently generates £5.3m in revenue with £3.2m recurring.
The organization adds more than 370 clients including the UK National Audit, the Federal Reserve, Investec, the New York Stock Exchange, Shell, Bombardier and Blue Shield to Ideagen’s existing customer base.
Led by Ben Dorks, Ideagen CEO, and David Hornsby, Executive Chairman, Ideagen provides software and services to organizations operating within highly regulated industries such as aviation, banking and finance and life science, healthcare and manufacturing with its main operational premises spread throughout the UK, EU, US, Middle East and SE Asia.
Currently, more than 3,700 organizations use Ideagen’s products (including Q-Pulse, Coruson, Pentana Audit, Pentana Performance and PleaseReview) including seven of the top 10 UK accounting firms, all of the top aerospace and defence companies and 75% of the world’s leading pharmaceutical firms.
Its customer base includes many global brands such as British Airways, Aggreko, BAE, Ryanair, US Navy, KLM, BBVA, Bank of New York, Commerzbank, Meggitt, Heineken, Johnson Matthey, Haeco Group and European Central Bank and 180 hospitals across the UK and US.
Founded in 1993, Ideagen directly employs more than 420 members in the UK, US and Asia.
FinSMEs
28/09/2018