RALEIGH — InspectionXpert Corp., an inspection planning software provider, has been purchased for $7 million by the UK-based software firm, Ideagen.
Currently generating over $2.8 million in revenue, InspectionXpert has developed software solutions and tools that increase productivity by eliminating manual practices.
Ideagen is incorporating InspectionXpert’s products, InspectionXpert and QualityXpert, into its existing software products.
InspectionXpert, which was founded in 2004, has shown that its software can create time savings of as high as 90 percent for companies. It has more than 1,000 existing clients, including Boeing, Kohler and Pratt & Whitney. Its annual sales broke $1 million in 2011.
InspectionXpert
“As well as significantly enhancing our manufacturing supply chain product suite, the acquisition of InspectionXpert provides Ideagen with a fantastic opportunity for growth by broadening upsell and cross-selling opportunities, increasing our customer footprint and expanding our geographical reach,” said Ideagen CEO Ben Dorks in a statement.
InspectionXpert is the second company Ideagen has bought in the U.S. just this year. Dorks said, “The acquisition of InspectionXpert demonstrates Ideagen’s commitment to our U.S. growth strategy with $15 million invested in the U.S. this year.”
InspectionXpert founder Jeff Cope will join Ideagen as a senior product manager. He is a North Carolina State University graduate in mechanical engineering.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism
