Acquisition
April 23 2009 - 2:00AM
UK Regulatory
TIDMIDOX
RNS Number : 0177R
IDOX PLC
23 April 2009
23 April 2009
IDOX plc
Acquisition of J4B Software & Publishing for GBP0.8 million cash
IDOX plc (AIM:IDOX, the "Company"), has agreed to acquire the entire issued
share capital of J4B Software and Publishing Limited ("J4B"), a provider of
web-based content principally to local authorities, for a cash consideration of
GBP0.8 million funded from existing resources. J4B has a cash balance of
GBP0.2m.
Highlights
* J4B, previously a part of J4B plc, a PlusMarkets listed company, provides
value-added databases of government and EU funding information via easily
accessible web sites. J4B has its main operations in the UK and the Netherlands.
* The acquisition is in line with IDOX's strategy of providing software, solutions
and services to government and related organisations. The acquisition will
enhance the capabilities of the existing IDOX Information Service ("IIS") which
has been part of the IDOX group since 2002 and which provides subscription-based
content to complement the company's core software business.
* J4B had revenues of GBP2.0m for the year ended 31 December 2008, an operating
profit of GBP0.3m and net assets of GBP0.2 million at 31 March 2009.
* Jeremy Philips, a shareholder and Managing Director of J4B, will join the
executive team of IDOX, bringing his experience in electronic content
management, database design and publishing.
Martin Brooks, IDOX Chairman, said:
"J4B is an attractive earnings-enhancing acquisition for us that reinforces our
supporting content business, thereby strengthening our wider capabilities in the
local authority and related markets."
For further information, call:
+------------------------------------------+--------------------+
| IDOX plc | |
+------------------------------------------+--------------------+
| Martin Brooks, Chairman | 020 7332 6000 |
+------------------------------------------+--------------------+
| Richard Kellett-Clarke, CEO | |
| William Edmondson, CFO | |
| | |
+------------------------------------------+--------------------+
| Noble & Company Limited | |
+------------------------------------------+--------------------+
| John Llewellyn-Lloyd | 020 7763 2200 |
| Sam Reynolds | |
+------------------------------------------+--------------------+
| College Hill | 020 7457 2020 |
| Adrian Duffield | |
| Carl Franklin | |
+------------------------------------------+--------------------+
Notes for Editors
IDOX plc
IDOX plc is a supplier of software solutions and services principally to the UK
public sector and the leading applications provider to local government for core
functions relating to land, people and property through its UNI-form and IDOX
product range. Some 70% of UK local authorities are customers.
The Company gives public-sector organisations the tools to manage information
and knowledge, documents and content, business processes and workflow as well as
connecting directly with the citizen via the web.
It also supplies decision support content and additional specialist services via
the IDOX Information Service.
Under the TFPL brand the company is transforming approaches to knowledge and
content management via consultancy and training, as well as providing these
specialist skills to customers through its recruitment division.
J4B Software & Publishing Limited (J4B)
J4B is a UK based supplier of software, database and WEB portal services to
local authorities, Government bodies, universities and the NGO community. J4B
collects grant information, codifies and presents this information on behalf of
organisations to potential applicants and as a research base for consultancies
and third parties and is acknowledged as being a leading supplier of such
services.
For more information see www.idoxplc.com and www.J4B.com
END
This information is provided by RNS
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