23rd March, 2017, Malmesbury, UK –
PleaseTech Ltd, the specialist provider of collaborative document review, co-authoring and redaction software today announced its acquisition by Ideagen Plc, the Nottingham-based information management software provider.
PleaseTech was founded in 2002 by its CEO, David Cornwell. PleaseReview™, the company’s flagship product, is a unique market leading solution that enables the collaborative review, co-authoring and redaction of documents and other content.
The company grew revenue by over 40% in 2016 and has more than 180 global customers predominantly from the Life Sciences, Defense, Military, IT and energy sectors and counts 200,000 users worldwide.
PleaseTech has expanded swiftly as PleaseReview has become the solution of choice for document-centric business functions requiring in-document controlled collaboration. Typical use cases include regulatory submissions, major proposal review, operating license applications, procedure and policy review, etc. In use by 70% of the top 20 global Pharmaceutical and Biotech organizations, PleaseReview has also seen significant traction in Defense and the Military as well as Construction and Civil Engineering. The acquisition of PleaseTech Ltd is in line with Ideagen’s strategy of acquiring healthy, growing and profitable businesses.
“Ideagen will provide the solid foundations and management structure needed to take PleaseTech through the next phase of growth” said David Cornwell, PleaseTech CEO. He added “Ideagen not only has our required profile for taking us to the next level, it has the necessary size, is a complementary software business and is British which, as we are a UK company, will help the fit from a cultural perspective.”
David Hornsby, Ideagen’s CEO, stated: “PleaseTech brings to the Group outstanding intellectual property in the form of its PleaseReview software which will complement our existing product suite, particularly helping to strengthen our position in Life Sciences.
“The acquisition will also see the integration of PleaseTech’s experienced and talented workforce into the wider Ideagen Group and boosts our existing client base with the addition of over 180 new customers across a variety of industries.”
“The acquisition of PleaseTech is an exciting addition and a significant development in the future of Ideagen. It once again re-iterates our commitment to our long-term growth strategy of acquiring business with strong IP and healthy recurring revenues.”
David Cornwell added: “Ideagen are not just acquiring an outstanding product in PleaseReview, but also a superb team which not only created PleaseReview but markets, sells and supports it across the globe. I am looking forward to seeing PleaseReview and the team going from strength to strength with the expanded reach and opportunities that Ideagen brings to the table.”
Ideagen is a UK company quoted on the London Stock Exchange AIM market (Ticker: IDEA.LN).
It provides quality, safety, audit and risk management software and expertise and has operations in the UK, the European Union, the United States and the Middle East.
With an excellent portfolio of software products, Ideagen helps the world's leading brands to improve operational efficiency, strengthen compliance and oversight and anticipate and manage every detail of risk. This enables organizations to reduce costs and improve efficiency.
The Group has a customer base of over 3,000 organizations using the Ideagen suite of products, including many blue-chip names such as BAE Systems, Emirates, Shell and the European Central Bank as well as 150 hospitals in the UK and US.
What sets Ideagen apart?
- Ownership: UK AIM public listed company - Ideagen PLC - IDEA
- Accreditations: ISO 9001:2008; 14001 & 27001 certified
- Employees: Over 360 employees and a global Partner Network
- Customers: 3,000 companies using the Ideagen suite of products globally
- Support: Based in the UK and US, providing 24/7 support
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