Ideagen plc

Canaccord Genuity acts as Rule 3 Adviser and Nominated Adviser to Ideagen plc on its £1.05bn takeover by Hg Pooled Management Limited

Canaccord Genuity is pleased to announce it has acted as Rule 3 Adviser and Nominated Adviser to Ideagen plc (the “Company” or“Ideagen”) on its £1.05bn takeover by Hg Pooled Management Limited (“Hg”), a leading software and services investor with funds under management of over $40bn.

Ideagen's software helps companies comply with regulation and manage risk. Ideagen is a leader in the +$30 billion regulatory and compliance software sector, serving highly regulated industries such as life sciences, healthcare, banking and finance and insurance. The Company has a trackrecord of 12 years of profitable growth and strong cash generation with high levels of recurring revenues. Ideagen has a diversified customer base including blue chip, global brands such as Heineken, British Airways, Aggreko, Bank of New York and Johnson Matthey. The Company is headquartered in the UK and has key hubs in the UK, USA, Middle East and South East Asia.

The all-cash offer at a price of 350 pence represented a premium of approximately 52 per cent. to the closing price per Ideagen share of 230 pence on 11 April 2022 (being the last Business Day prior tospeculation in connection with a potential offer for Ideagen). The acquisition valued the entire issued and to be issued ordinary share capital of Ideagen at approximately £1.05bn, implying an enterprise value of £1.09bn, equivalent to a multiple of 11.2x enterprise value to revenue (Reported revenue of £97m on an annualised proforma basis as at November 2021).