IDOX PLC Acquisition (0761C)

TIDMIDOX

RNS Number : 0761C

IDOX PLC

11 April 2013

Idox plc

Extends geographic reach of Engineering Information Management business with acquisition of Artesys International for GBP2m

Idox plc (AIM: IDOX, 'Idox' or 'the Group'), a leading independent supplier of software & services, has acquired Artesys International SA ('Artesys'), a French engineering document control software provider, for a cash consideration of GBP2m (EUR2.4m).

Founded in 2000, Artesys, through its Opidis product, provides engineering document control solutions and applications supporting the efficient and safe operation of processing plants and is used by over 8,000 engineering and maintenance professionals to locate validated plant documents and data. Based in Rennes, France, Artesys serves customers in France and Africa, predominantly in the Oil & Gas industry.

Artesys is expected to report revenues of EUR2.9m and operating profit of EUR0.4m in the year ended 31 March 2013*. The acquisition will be funded from Idox's cash and existing debt facilities and will be immediately earnings enhancing.

Artesys will be integrated with Idox's existing Engineering Information Management ('EIM') division and adds a team of highly skilled professionals together with extended geographic coverage in France and Africa.

Richard Kellett-Clarke, CEO of Idox, said:

"This expansion places our engineering information management division in a stronger position to support the energy & utilities and process manufacturing industries in France and the growing Oil & Gas and Mining industries in Africa. The acquisition of Artesys will allow us to leverage our recent development work to internationalise our existing McLaren software products and further our strategic objectives of reaching new geographies."

For further information on Artesys International, visit: www.artesys.com

* Provisional 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

This information is provided by RNS

The company news service from the London Stock Exchange

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