Ideagen Share Discussion Threads

[soundbuy] 26/6/2019 15:55

Less tinkering...........

[soundbuy] 26/6/2019 15:53

Flurry of interest today.........lightened a tad recently to add to SBIZ.......hmmmm

[rivaldo] 21/6/2019 07:26

New contract win with Cancer Research:



"Cancer Research UK chooses Ideagen’s software
Thursday, June 20, 2019

Ideagen has secured a new project with a leading cancer charity which will see the company supply it with two of its software applications.

Cancer Research UK, the world’s leading cancer charity dedicated to saving lives through research, will implement Ideagen’s Q-Pulse and PleaseReview products.

The project will see the charity adopt Ideagen’s software for general quality and compliance management tasks as well as for use during complex document review and collaboration projects.

etc"

[rivaldo] 19/6/2019 12:47

Indeed - great news that Gresham have taken 6% with 13.2m shares.

Hopefully they'll continue to buy more :o))

EDIT - I note they had 5.7% back in December, so they're steadily increasing their stake and have bought another.700,000 shares or so.

[soundbuy] 19/6/2019 11:25

New shareholder on the block............or at least with a notifiable holding

[rivaldo] 10/6/2019 14:06

Good summary on Techmarketview:



"Monday 10 June 2019
Ideagen buys again

Fast-growing AIM-listed risk management software specialist Ideagen PLC has bought RegTec SaaS supplier Redland Solutions for £15.8m. This move is Ideagen’s fourth acquisition in the last ten months. The purchase is immediately earnings enhancing and is expected to add mid-single digit accretion within the current financial year.

Founded in 2001, Bromsgrove-based Redland has evolved from an IT services firm into a software business through the development of Insight, a Senior Manager & Certification Regime (SMCR) and individual employee competency SaaS platform for the financial services industry. Employing some 30 people, the company’s clients include Santander, Old Mutual, Legal and General, Nomura and Homeserve. Redland revenues for the year to 31 March 2019 were £3.6m with operating profits of £1.2m. Current Annual Recurring Revenue (ARR) is approximately £3m - an increase of 50% from April 2018.

Having delivered c.30% yoy improvements in both the top and bottom lines for its most recent financial year (see here), Ideagen would appear to be very much on a roll. Through the recent purchases of audit management specialist Morgan Kai, quality inspection software supplier InspectionXpert and environmental health, safety and quality platform provider Scannell Solutions, moreover, the company has also demonstrated its ability to acquire and integrate successfully risk management software businesses.

The purchase of financial services industry-focused Redland will not only further advance Ideagen’s position in one of its key vertical market sectors, but also contribute to the company’s continuing transition from a perpetual licence to a SaaS based subscription model. Ideagen management expects to generate 74% of revenues from recurring contracts by the end of 2020."

[rivaldo] 10/6/2019 11:40

Finncap reiterate their 180p target, raising their forecast to 6p EPS for this year.

They note "following the very successful capital markets day" that this acquisition gives IDEA the opportunity for cross-selling and accelerated organic growth.

Also that net debt/EBITDA remains very comfortably below 1x, implying that further acquisitions are possible as per leavers post above.

[leavers] 10/6/2019 09:11

Lots to like here; fast growing company, cash generation 100% of ebitda and idea seem to be paying only around 16.3/4.2-2.7 = 11 times earnings. Very glad to see it dent-funded too. With the recurring revenue base they have the company can afford more leverage in my view vs diluting us

[rivaldo] 10/6/2019 07:23

Excellent and sizeable earnings-enhancing acquisition for £15.8m this morning - notably addressing compliance in the financial sector:



Lots of recurring income, great cash generation and a blue chip client list:

- Insight is used by over 40 organisations including 7 FTSE 100 and 2 Fortune 100 companies
- Customers include Nomura, Santander, Investec, Hargreaves Lansdown, and Rathbones

OT : snap multibagger!

[multibagger] 10/6/2019 07:23

Another solid, revenues enhancing company acquisition - this time in the Financial Services Sector.


Ideagen PLC Acquisition of Redland Solutions Ltd

10/06/2019 7:00am

RNS Number : 5970B

Acquisition of Redland Solutions Ltd

Ideagen PLC (AIM: IDEA), a leading supplier of Integrated Risk Management software to highly regulated industries, is pleased to announce the acquisition of the entire issued share capital of Redland Solutions Ltd ("Redland") for a net consideration of GBP15.8m (the "Acquisition").

Highlights

- Redland is a fast growing, profitable RegTec SaaS company supplying software to the financial services industry

- Redland's leading SaaS platform 'Insight' provides banks, investment managers, asset managers and insurance companies with solutions that underpin the Senior Manager & Certification Regime (SMCR) and individual employee competency

- Insight is used by over 40 organisations including 7 FTSE 100 and 2 Fortune 100 companies
- Customers include Nomura, Santander, Investec, Hargreaves Lansdown, and Rathbones
- Current Annual Recurring Revenue (ARR) is approximately GBP3m - an increase of 50% from April 2018

- Current run rate revenues are approximately GBP4.2m* and current run rate costs are approximately GBP2.7m

- Cash generation of > 100% of EBITDA in the year to 31 March 2019
- The acquisition is immediately earnings enhancing and is expected to add mid-single digit accretion within the current financial year

*ARR book at May 31(st) plus Last Twelve Months of services revenue

Consideration for the Acquisition

The total net consideration payable is GBP15.8m in cash being GBP17.5m gross consideration less cash balances in Redland of approximately GBP1.7m. A further GBP0.5m will be payable in 12 months based on certain ARR targets being achieved.

The consideration will be funded from an extended revolving credit facility with NatWest Bank. The facility is for up to GBP28m for three years, carries interest at 2% over LIBOR and is secured by debentures and guarantees over the Group's assets.

David Hornsby, Executive Chairman of Ideagen, commented:

"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 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 SMCR compliance"

Further information with regard to the SMCR and individual competency market opportunity and Redland is set out below.

The information communicated in this announcement includes inside information for the purposes of Article 7 of Regulation 596/2014

[rivaldo] 07/6/2019 10:42

Worth noting that the NHS has just published a £3 billion framework covering a wide range of hardware, software and IT services - which makes a total of £3.6 billion of such tech frameworks published in recent weeks.

Ideagen provides software and services to help over 400 global Healthcare organisations, including 75% of the UK NHS:

[rivaldo] 06/6/2019 23:36

Cannacord have raised their price target to 170p after the Capital Markets Day, and they see 80% upside on achievement of targets:



"Canaccord raises price target on 'confident' Ideagen

Analysts at Canaccord Genuity raised their target price for British software firm Ideagen from 160p to 170p on Thursday, citing the group's "confident" growth outlook and an "attractive" valuation as their reasoning.

Canaccord said Ideagen's capital markets day had highlighted the "attractiveness" of the risk and audit management software market, evidenced by high confidence in continued organic growth of more than 8% per annum with scope for acceleration to low-teens from 2020.

The Canadian broker, which also reiterated its 'buy' rating on Ideagen, expects recurring revenues to surpass 70% in 2019, noting that they could even approach 80% by 2022, increasing the defensiveness of its shares.

And the company's attractive earnings profile should be enriched by tuck-in M&A, where the firm's chief executive Ben Dorks and chairman David Hornsby had "a strong integration track record".

"In the current uncertain macro times, the relative value of a reliable growth compounder such as Ideagen should go up, particularly as we see that most peers exhibiting similar growth and recurring revenue characteristics trade on 25+% higher multiples," said Canaccord.

"We lift our target to 170p reflecting higher conviction in growth delivery, re-rated peers and rolling forward our DCF. Our target implies 20% upside but we highlight ~80% potential assuming management delivers on its '£100m revenues and £30m EBITDA' target for FY22."

[rivaldo] 06/6/2019 10:48

I'm thinking the Capital Markets Day yesterday went rather well.....

OT : igoe104, cheers re OPG.

[igoe104] 31/5/2019 15:09

Yep ill put the link up tomorrow, when I get home to my laptop. Still holding opg, sold my original stake a few years back, when they were over £1. So I'm free rolling with the rest.

[rivaldo] 30/5/2019 15:25

OT : igoe104, would you mind putting this link to coal prices in the OPG thread header post you set up (I assume you don't hold any more!)?

Thanks in advance...

[rivaldo] 30/5/2019 10:07

Finncap today reiterate their 180p target:



GHF, I've only just realised you've updated the thread header post - thanks for that. A good read.

[igoe104] 30/5/2019 08:03

It's also encouraging to read the last paragraph, about sales momentum continuing.

[rivaldo] 30/5/2019 07:11

New contract win announced.....



"New Contract Award with New Tier 1 Airline Customer

Ideagen PLC (AIM: IDEA), a leading supplier of Information Management Software to highly regulated industries, is pleased to announce that it has won a new SaaS contract with a new Tier 1 airline customer, worth £1.2 million over its three-year term.

The airline, a global leader operating over 3,000 flights across six continents, will use Ideagen's safety management software Coruson to enable 65,000 users to log and report all safety incidents across its entire operation.

Ben Dorks CEO commented: "We are delighted to be awarded this important contract with a prestigious new customer. The implementation of systems to further improve airline safety is vital for the industry and it is a testament to our product and people that another global airline has selected Coruson. It is also encouraging to see the sales momentum of last year continuing into the first month of the new year."

[soundbuy] 22/5/2019 11:53

Possible overhang just cleared?

Next leg up? Time will tell i guess..........

[davr0s] 21/5/2019 20:43

I don't look at valuations - all I see is constructive price action so I hold until that changes

[halfpenny] 21/5/2019 16:17

Fantastic deal for both parties with IDEA now elevated to greater heights and shares heading above 160p with a more realistic price £2 coming very soon with more splendid deals in the pipeline.

[jaws6] 21/5/2019 16:02

good read link above ,thanks.

[rivaldo] 21/5/2019 14:01

Nice contract win for a number of IDEA's different software services:



"Ideagen secures ambitious software project with Joramco
Tuesday, May 21, 2019

Ideagen’s Q-Pulse, Q-Pulse Risk and PleaseReview will be implemented to support Joramco’s organisational growth with particular focus on quality, safety and risk

Ideagen has announced it is to supply its software to a major aircraft maintenance organisation in the Middle East.

Joramco, an independent commercial aircraft maintenance, repair and overhaul (MRO) organisation based in Jordan, will adopt Ideagen’s Q-Pulse, Q-Pulse Risk and PleaseReview products.

Joramco will use Ideagen’s software as it aims to automate and support key processes associated with its quality, safety, risk and regulatory requirements...

.....Operating for more than 50 years, Joramco – majority owned by the Dubai Aerospace Enterprise (DEA) since 2016 – has maintained a strong track record as a leading commercial aircraft MRO organisation.

Joramco serves a wide range of customers across the Middle east, Europe, Asia, Africa, Russia and across the Commonwealth of Independenet Estates (CIS), offering services on several aircraft models from the likes of Airbus, Boeing and Embraer fleets.

etc"

[zipstuck] 16/5/2019 15:23

cant help wondering if another fund raising to fund aquisitions