Closed deal

ICON Advises Software Solutions Firm Redland on its Sale to Ideagen Plc for £17.5m

01.04.2019

ICON Corporate Finance, specialist in Technology M&A, has advised Redland Business Solutions Ltd (‘Redland’), a Financial Services RegTech, on its sale to Ideagen Plc for £17.5 million.

Based near Birmingham, UK, Redland is a RegTech SaaS company which supplies regulatory and compliance software to the financial services industry.

It’s leading software platform, ‘Insight’, provides banks, investment managers, asset managers and insurance companies with solutions that underpin the Senior Managers & Certification Regime (SM&CR) and individual employee competency.

Redland brings more than 40 clients to the Ideagen Group, including, 7 FTSE 100 and 2 Fortune 500 companies. Clients include Nomura, Santander, Investec, Hargreaves Lansdown and Rathbones.

“Redland is an extremely valuable addition to the Group and is in line with our strategy of acquiring Integrated Risk Management businesses that have strong intellectual property (IP) and growing recurring revenues.

“Financial services is an important vertical market for Ideagen and the combination of Redland’s Insight platform with Ideagen’s Pentana will provide a compelling proposition covering internal audit, risk management, certification and SM&CR compliance.”

David Hornsby

Executive Chairman of Ideagen

“We are delighted that Redland will be joining the Ideagen Group, which truly is a global organisation in the governance, risk and compliance software space. With thousands of clients globally, Ideagen will be able to introduce our Insight product to a range of new clients.

Ideagen is not just acquiring an outstanding product in the form of our ‘Insight’ solution, but is also gaining a superb team with exceptional industry domain knowledge which successfully develops, markets, sells and supports it across the UK.

I am looking forward to seeing ‘Insight’ and the wider Redland team going from strength to strength with the expanded reach and opportunities available via Ideagen.”