Ideagen move closer to Damstra acquisition
Jan 29, 24
Ideagen have moved a step closer to strengthening their environmental, health and safety (EHS) capability after Damstra, an Australian EHS business listed on the Australian Securities Exchange, entered into a Scheme Implementation Deed with the Nottingham UK headquartered software company.
Under the terms of the scheme, Ideagen will acquire 100% of the fully diluted share capital.
The Damstra Board (including the independent board committee formed for the purpose of considering the Scheme) unanimously recommended that Damstra shareholders vote in favour of the Scheme.
Speaking about the news Ideagen CEO Ben Dorks, said: “Ideagen provide regulated industries with the clarity and confidence to turn risk to resilience, and the addition of Damstra’s market-leading workforce and asset management solutions will enhance this.
“We’ve made significant investment in the Asia Pacific region and intend to continue to grow our presence in Australia. Existing Damstra customers will benefit from Ideagen’s broader resources and we intend to use our global footprint to introduce Damstra’s capabilities to a wider customer base.
“It’s a great fit into our existing portfolio and we’re excited about the product and its people, driving great value for customers.”
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