Ideagen DevonWay receives CFIUS approval

Ideagen can now accelerate its plans to support more businesses with their complex health, safety and quality software needs after the acquisition of DevonWay was formally approved by the Committee on Foreign Investment in the United States (CFIUS).

The approval marks the final part of the legal process, meaning Ideagen DevonWay customers can start to benefit from being part of a global community of regulated industries.

Ben Dorks, CEO of Ideagen, said: "I am delighted that this final legal stage is complete and we can move forward with our ambitions for Ideagen DevonWay.

"This includes introducing the Ideagen DevonWay platform to an even wider range of industries supporting them to address the evolving needs and challenges of regulation and compliance worldwide."

Ideagen DevonWay provides compliance and operations management and is trusted by organizations in sectors such as energy, utilities, advanced manufacturing, nuclear power generation and US national laboratories.

It provides a complete, fully integrated, configurable product suite across environmental health and safety, quality management, enterprise asset management and workforce management.

Chris Moustakas, CEO of Ideagen DevonWay, added: "Joining forces with Ideagen is a thrilling next step for DevonWay. Given the increasingly complex regulatory landscapes, our shared mission is to help organizations to transform their approach to health, safety, quality, risk and compliance management. This acquisition paves the way for us to provide enhanced support to our customers, partners and employees."

Ideagen is dedicated to the safety and sustainability of regulated and high-compliance industries worldwide. A tech unicorn, taken into private equity ownership in 2022 for £1.1bn, we are trusted by more than 11,500 customers to support them with their health, safety, risk, quality, audit and collaboration software needs. 

Our current customers include more than 1,000 government organizations, 250 global aviation organizations, nine of the top ten accounting firms, nine of the top ten global aerospace and defense corporations, 15 of the top 20 global pharmaceutical companies and 65% of the top 20 global food and drink companies.