Belfast-based compliance software program group AuditComply has been acquired by Toronto-headquartered Nulogy.
Based within the Northern Irish capital in 2014, AuditComply has developed a top quality administration platform for producers to carry out duties akin to monitoring suppliers.
“We’re excited in regards to the subsequent chapter for the enterprise as a part of Nulogy,” stated Kevin Donaghy, chief govt of AuditComply.
“AuditComply and Nulogy have a shared imaginative and prescient of empowering producers with the info and digital assist they should successfully handle and scale their operations in at present’s market.”
The price of the acquisition by the Canadian cloud-based manufacturing software program agency has not been disclosed, nevertheless, AuditComply backer Co-Fund NI confirmed the deal resulted in a profitable exit for it.
Co-Fund NI is an funding fund connected to the Northern Irish authorities and managed by Clarendon Fund Managers. It makes investments sometimes between £150,000 and £500,000.
The fund invested in AuditComply in 2015 alongside a handful of angels. The agency was later backed by BGF, First Derivatives and British Enterprise Financial institution through its Regional Angel Programme.
“We’re actually happy for the AuditComply staff and want to congratulate Kevin and Susan on securing this partnership with Nulogy,” stated Brian Cummings, funding director at Clarendon Fund Managers.
“Whereas this ends in a profitable exit for Co-Fund NI, additionally it is a excellent news story for the Northern Eire financial system because it gives an extra indication of how worldwide buyers view the calibre of enterprise we’ve on this a part of the world, throughout a variety of sectors.”
