LONDON (Alliance News) - Information management software provider Ideagen PLC on Tuesday said it has acquired Bulgarian audit software and consultancy services provider Logen Ltd.
Sofia-based Logen is a reseller of Ideagen's GRC audit management and risk assessment product Pentana, Ideagen noted. It counts the likes of the Bulgarian National Revenue Agency, the Czech National Bank and the Croatian National Bank amongst its clients.
Ideagen will pay GBP100,000 in cash upfront, with another GBP100,000 due after 12 months based on Logen meeting certain post-acquisition targets.
Shares in Ideagen were flat at 57.00 pence on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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