Medforce Technologies acquired

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Friday, April 6, 2018

SUFFERN, N.Y. – Medforce Technologies, the productivity-enhancing software and services provider, has been acquired by U.K.-based technology firm Ideagen for $8.7 million.

Ideagen says Medforce, its first acquisition in the U.S., adds an established suite of intellectual property and a skilled workforce to its growing global headquarters.

“Medforce is a valuable addition to the group and is in line with our strategy of acquiring businesses that have strong IP and recurring revenues,” said David Hornsby, Ideagen’s CEO.

Ideagen says Medforce generated revenues totaling $4.7 million for 2017, with 82% of that recurring.

Overall, Medforce represents Ideagen’s 13th acquisition in just more than a decade and means the company now has a major operational presence in the U.S., U.K., Asia and Central Europe. More recently, it has integrated Gael Ltd, IPI Solutions Ltd, Covalent Software Ltd and PleaseTech Ltd as part of a “buy-and-build” growth strategy.