IDOX PLC Acquisition (0531P)
October 19 2012 - 2:00AM
UK Regulatory
TIDMIDOX
RNS Number : 0531P
IDOX PLC
19 October 2012
19 October 2012
Idox plc
Extends Engineering Information Management business with
acquisition of FMx for GBP5.6m
Idox plc (AIM: IDOX, 'Idox' or 'the Group'), a leading
independent supplier of software & services, has acquired FMx
Limited ('FMx'), a leading supplier of computer-aided facilities
management ('CAFM') software, for a cash consideration of
GBP5.6m.
FMx, through its CAFM Explorer product, provides facilities
management software solutions to corporate, public and commercial
real estate customers in over 30 countries. CAFM Explorer is a
comprehensive solution to manage all aspects of an operational
facility including building management, maintenance, asset tracking
and cost control. FMx is based in Crawley, UK where it employs 24
staff.
FMx reported revenues of GBP2.7m and underlying* operating
profit of GBP0.9m in the year ended 31 March 2012**. The
acquisition will be funded from Idox's cash and existing debt
facilities and is expected to be immediately earnings
enhancing.
FMx will be merged with Idox's existing Engineering Information
Management ('EIM') division under the McLaren Software brand and
management. The addition of CAFM Explorer to the Idox EIM product
range extends the division's existing project collaboration
solution, now enabling it to encompass the lifecycle of a building,
campus or facility. CAFM Explorer also provides the EIM division
with a comprehensive solution for the estates departments of its
existing asset intensive customers in Oil & Gas, Energy &
Utilities and Process Manufacturing sectors. In addition CAFM
Explorer adds to the Group's offering of information and estate
solutions to its local government customer base.
Richard Kellett-Clarke, CEO of Idox, said:
"This acquisition is an important step in our strategy to extend
our engineering information management solutions across the full
operational lifecycle of commercial real estate and operational
assets. FMx, as one of the earliest pioneers of CAFM, has an
excellent reputation in the market place for delivering a flexible
and functionally rich solution. The acquisition enables us to
leverage our existing global EIM sales team and customer base and
also broaden our solutions available to our UK local government
customers."
*Underlying operating profit is stated after stripping out
vendor related costs which will not be incurred
post-acquisition.
** Unaudited
Enquiries:
Idox plc +44 (0) 20 7332 6000
Richard Kellett-Clarke, Chief Executive
William Edmondson, Chief Financial
Officer
Investec Investment Banking +44 (0) 20 7597 5000
Andrew Pinder / Patrick Robb
finnCap +44 (0) 20 7220 0500
Stuart Andrews/Stephen Norcross
Leander PR +44 (0) 7795 168 157
Christian Taylor-Wilkinson
About Idox plc
Idox plc is a supplier of specialist document management
collaboration solutions and services to the UK public sector and
increasingly to highly regulated asset intensive industries around
the world in the wider corporate sector.
Its Public Sector Software Division is the leading applications
provider to UK 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, content, business processes and workflow as well as
connecting directly with the citizen via the web.
Through the Information Solutions Division Idox also supplies,
predominantly to the public sector, decision support content such
as grants and planning policy information as well as related
specialist services.
The Engineering Information Management Division delivers
engineering document control and project collaboration applications
to many leading companies in industries such as oil & gas,
architecture and construction, mining, utilities, pharmaceuticals
and transportation around the world.
In addition the Group provides knowledge and content management
skills to customers through its TFPL branded recruitment
division.
The Group employs over 500 staff located in the UK, the USA,
Europe, India and Australia.
For more information see www.idoxplc.com
About FMx Ltd
FMx Ltd provides facilities management software, solutions,
expertise and knowledge to customers in over 30 countries. CAFM
Explorer supports key activities including building maintenance,
asset management, space planning, room & resource booking, cost
control and estates management.
CAFM Explorer scalable solutions are deployable on-premise, via
the web and mobile devices to support a range of user roles and
responsibilities to share consistent and real time information.
For more information www.cafmexplorer.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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