The agreement terms were originally announced this past May. Here are the top-line bullets you need to know.
HgCapital, a private investment firm, has acquired Ideagen, a provider of governance, risk, and compliance (GRC) software, for $1.3B.
WHO ARE THE PARTIES TO THE DEAL?
- Ideagen: UK-based Ideagen helps organizations meet compliance requirements and manage risk. The company has over 10K customers, including Heineken, the NHS, British Airways, Bank of New York, the European Central Bank, and the US Navy. It generated nearly $65M in FY’21, up 16% year-over-year. The company has business hubs across the UK, the US, the Middle East, Australia, and Southeast Asia, and it is supported by a team of nearly 700 employees.
- HgCapital: UK-based HgCapital is a private investment firm focused on software and services. It caters to a variety of institutional investors, including private and public pension funds. The company currently manages over $40B in funds on behalf of 150 clients. The total revenue of its portfolio companies currently stands at $13B+. The company is supported by a team of over 280 employees across London, Munich, and New York.
Source: Ideagen
WHY DOES THE MARKET MATTER?
- The global eGRC (enterprise governance, risk management, and compliance) market is expected to reach a value of $60.7B by 2026, growing at a CAGR of 10.9%, according to Markets and Markets.
- Mounting regulatory pressure from governments as well as the increasing integration of AI and blockchain technologies into eGRC solutions have contributed to market growth.
