Acquisition of licensing management software co. (9211A)
February 09 2011 - 2:00AM
UK Regulatory
TIDMIDOX
RNS Number : 9211A
IDOX PLC
09 February 2011
9 February 2011
IDOX plc
Conditional acquisition of licensing management software company
for up to GBP2.6m
IDOX plc (AIM: IDOX, 'IDOX' or the 'Company'), a leading
independent supplier of software and services to the UK public
sector and other markets, has conditionally agreed to acquire
LalPac Ltd ('LalPac') for a gross consideration of up to GBP2.6m
payable in cash from existing resources. On completion, an initial
payment of GBP2.3m will be made and a further GBP0.3m is payable on
the first anniversary of completion subject to fulfilment of
certain conditions. The acquisition will be immediately earnings
enhancing.
LalPac is one of the UK's leading providers of licensing
management software and services, supplying 131 local authorities
covering the full range of licensing including Taxi, Private Hire,
Gambling and General Licensing functions. LalPac reported revenues
of GBP1.5m in 2010 (unaudited), of which more than 85% is
recurring. LalPac is expected to have cash at completion of
GBP0.8m.
The completion of the merger is conditional on IDOX receiving
confirmation from the Office of Fair Trading ('OFT') that the
acquisition will not be referred to the Competition Commission for
further investigation in accordance with the Enterprise Act
2002.
Martin Brooks, IDOX Chairman, said:
"The LalPac suite of licensing management software products will
take its place as an important part of a broader range of products
and services that IDOX offers. This acquisition will provide
significant cross-selling opportunities within our customer base
and ensure that we continue to deliver innovative solutions to our
customers that can help them achieve efficiencies."
Enquiries:
IDOX plc +44 (0) 20 7332 6000
Martin Brooks, Chairman
Richard Kellett-Clarke, Chief Executive
William Edmondson, Chief Financial
Officer
Investec Investment Banking +44 (0) 20 7597 5104
Andrew Pinder
Patrick Robb
FinnCap +44 (0) 20 7600 1658
Charles Cunningham (Corporate Finance)
Stephen Norcross (Corporate Broking)
College Hill +44 (0) 20 7457 2020
Adrian Duffield/Kay Larsen
About IDOX plc
IDOX plc is a supplier of software solutions and services to the
UK public sector and increasingly to the wider corporate sector. It
is the leading applications provider to local government for core
functions relating to land, people and property, such as its market
leading planning systems and election management software. Over 90%
of UK local authorities are now customers.
The Group provides public sector organisations with tools to
manage information and knowledge, documents and content, business
processes and workflow as well as connecting directly with the
citizen via the web.
These capabilities have been recently extended via the
acquisition of McLaren Software into the related area of
engineering document management and control applications, serving
many leading international companies in industries such as oil
& gas, mining, utilities, pharmaceuticals and
transportation.
IDOX also supplies decision support content and additional
specialist services via the IDOX Information Solutions business, as
well as transforming approaches to knowledge and content management
via consultancy and training in the UK and internationally.
In addition, it provides these specialist skills to customers
through its TFPL branded recruitment division.
For more information see www.idoxplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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