StockMarketWire.com - Ideagen has taken over EIBS Limited for a net cash consideration of £1.25m. EIBS is a software company that has developed proprietary information portal, internet and mobile solutions for the NHS and numerous public sector, not for profit and commercial organisations.

EIBS has approximately 140 customers, including 40 NHS Trusts.

Chief executive David Hornsby said: "I am delighted to announce the acquisition of EIBS which we believe will augment the Group, both strategically and financially, thereby enhancing shareholder value. EIBS has established an extremely compelling value proposition comprising strong IP and long-term relationships with its extensive customer base which includes a number of NHS trusts. "The combination of EIBS and Ideagen will enable the enlarged Group to rapidly develop new applications for our key markets and we believe the Acquisition provides an outstanding opportunity to leverage our position in the NHS and other regulated market sectors. We are confident that we can make the EIBS business significantly more profitable over the next 12 months as we integrate it into the rest of the Group."




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