U.K. software company acquires Blacksburg firm
Ideagen buys Qualtrax
Nottingham, England-based software company Ideagen plc announced Tuesday it has acquired Blacksburg-based Qualtrax.
Financial terms of the transaction were not disclosed. This marks the 21st acquisition for Ideagen, which provides quality management software for aviation, financial services, life science, health care and manufacturing industries.
Founded in 1993, Qualtrax provides software that helps companies with managing documents and training. Its 340 clients include Walmart, the D.C. Office of the Chief Medical Examiner, the Colorado Bureau of Investigation, SABIC Innovative Plastics and the Arkansas State Crime Lab. Qualtrax, which employs 40 people, reported approximately $5.2 million in 2020 revenue.
“Qualtrax’s product, customer base and reputation in the market will enhance our existing compliance offering and provide us with an excellent springboard from which to grow in this sector,” Ideagen CEO Ben Dorks said in a statement.
All current Qualtrax employees will remain with the company under the acquisition. Its Blacksburg location will become Ideagen’s U.S. headquarters, where approximately 80 people will be based.
“The plan is to grow the U.S. operation from this base and expand the business throughout the U.S.,” according to Ideagen. Further expansion details were not disclosed.