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Ideagen outlines three-year plan for 'global leader' status

By Josh White

Date: Tuesday 30 Nov 2021

LONDON (ShareCast) - (Sharecast News) - Information management software company Ideagen outlined its "ambitions and new targets" for the next three years on Tuesday, saying it aimed to become a "global leader" in the $30bn governance, risk and compliance (GRC) market opportunity.
The AIM-traded firm, which was holding its capital markets day, said it was targeting pro-forma annual recurring revenue of £200m by April 2025.

It said it was exploring the "areas and routes to market" for driving targeted 15% year-on-year organic growth.

"Today we will set out how the group will deliver on the significant opportunity that we see now and in the future," said chief executive officer Ben Dorks.

"Ideagen remains committed to becoming a global leader in the GRC market.

"Our purpose is to make complying with regulation easy, quick, and cost effective, and ensure we have a suite of world-class software products to enable that."

Dorks said 12 years of profitable growth, underpinned by its talented team and strong working culture, gave the company "confidence" that it could accelerate its growth and achieve its target of £200m annualised recurring revenue by April 2025.

"We look forward to building on our achievements to date and delivering against our ambitious medium-term targets."

At 1012 GMT, shares in Ideagen were flat at 254p.

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