Nottingham software firm Ideagen has announced the acquisition of Optima Diagnostics Ltd, trading as OSHENS, for 拢1.8m.
Based in London, SaaS firm Optima has developed OSHENS, a SaaS-based health and safety compliance solution.
The software is currently used by around 80 customers, including Airbus, Sellafield, BAE Systems and Edinburgh Airport, across markets such as aerospace and defence, aviation and energy.
Ben Dorks, Ideagen鈥檚 CEO, said the acquisition supported Ideagen鈥檚 QHSE strategy.
He said: 鈥淥ptima is a successful and profitable software company which will significantly strengthen our QHSE business unit.
鈥淭his is an exciting acquisition that will solidify our QHSE offering while strengthening our foothold in a strategic market for the company.
鈥淥ptima brings to the Group an impressive client base spread across several industries, many of which Ideagen currently operates in. We are looking forward to working with those clients, some of which will be new to Ideagen, whilst strengthening our relations with those that currently use Ideagen鈥檚 software.
鈥淭he acquisition of Optima marks an outstanding opportunity for both ourselves and our customers; significantly broadening our software capability and enhancing our overall QHSE business.鈥�
The acquisition of Optima will also see the addition of 11 members of staff and is expected to contribute 拢300,000 additional annual EBITDA to the Ideagen Group following the realisation of already identified synergies.
David Hornsby, Ideagen鈥檚 Executive Chairman, added: 鈥淥ptima is a valuable addition to Ideagen and is in line with our strategy of acquiring businesses that have strong IP and recurring revenues.
鈥淨HSE is a valuable yet fragmented market and the acquisition will further enhance our market position as we aim to further consolidate this sector.鈥�
Last month, Ideagen reported that it had successfully grown its Redland business, securing nine new contracts totalling 拢1.2m.
In July the firm celebrated ten years of growth.