Software firm Ideagen has announced its second acquisition this year, with the announcement that it has bought its Bulgarian re-seller, Logen Ltd.
Based in Sofia, Logen Ltd has been a long standing and official distributer and service provider of Pentana, Ideagen’s specialised audit, resource and risk management product, since 2004.
The acquisition will enhance Ideagen’s customer base of over 2,200 organisations globally, with Logen Ltd boasting the Bulgarian National Revenue Agency, Croatian Tax Administration and the Czech National Bank among its clients.
Significantly, the acquisition will also provide Ideagen with a presence in Eastern Europe, adding to its global offices in the UK, Dubai and the US.
Ideagen CEO, David Hornsby, said: “We are absolutely delighted to announce the purchase of Logen Ltd, which is a strong, successful and existing re-seller of our Pentana product.
"This acquisition increases our global presence, providing us with a solid operational base in Eastern Europe which also enhances our sales reach.
"Logen has a current team of five employees who have deep experience in audit-based analytics, particularly within the financial and public sectors. The acquisition will give Ideagen's existing customers access to this expertise, as well as create a solid operational base in central Europe from which we can enhance our sales reach and future software development capacity.
"It also reaffirms our commitment to growth through strategic acquisitions and we look forward to integrating Logen's staff and existing customers into the wider Ideagen Group."
Logen Ltd is the second acquisition by Ideagen in 2016, with cloud software specialists Covalent Software Ltd purchased in a £3.6 million deal earlier this month.