IDOX PLC Acquisition (0643V)
October 23 2014 - 2:01AM
UK Regulatory
TIDMIDOX
RNS Number : 0643V
IDOX PLC
23 October 2014
23 October 2014
Idox plc
("Idox" or "the Group")
Acquisition
Idox plc (AIM: IDOX), a leading independent supplier of software
& services, has acquired Digital Spirit GMBH, a leading
supplier of compliance solutions for an undisclosed sum from
Infinitas Learning BV.
Digital Spirit, based in Berlin, provides compliance software
and content to corporate, public and commercial customers across
Europe and is complementary to Idox's e-learning software business,
Interactive Dialogues, which it acquired in November 2011.
Digital Spirit reported revenues of EUR6.5m and underlying
operating loss of EUR0.6m in the year ended 31 Dec 2013. The
acquisition will be funded from Idox's cash and existing debt
facilities and is expected to be break-even in 2015 and start to
make a positive contribution during the following year.
Digital Spirit will be merged with the Group's Interactive
Dialogues business, which is part of the Public Sector Software
Division (PSSD); and both will be re-branded corporately as Idox
Compliance. The addition of Digital Spirit to PSSD will extend the
division's existing geographical reach, product range and
functional capability.
Richard Kellett-Clarke, CEO of Idox, said:
"This acquisition is an important step to further strengthen our
solutions outside the UK and to penetrate more of Europe. Digital
Spirit has an excellent reputation in the market place for
delivering a flexible and functionally rich solution. The
acquisition is expected to more than double our presence in the
fast growing segment of the European compliance and e-learning
market."
-ends-
Enquiries:
Idox plc +44 (0) 870 333 7101
Martin Brooks, Chairman
Richard Kellett-Clarke, Chief Executive
Jane Mackie, Chief Financial Officer
N+1 Singer (NOMAD and Broker) +44 (0) 20 7496 3000
Shaun Dobson / Nick Donovan
Leander (Financial 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 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 Division 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. It also supplies,
predominantly to the public sector in the UK and internationally,
decision support content such as grants and planning policy
information as well as related specialist services, including
election management solutions.
The Engineering Information Management Division delivers
engineering document control, project collaboration and facility
management applications to many leading companies in industries
such as oil & gas, architecture and construction, mining,
utilities, pharmaceuticals and transportation in North America and
around the world.
The Group employs over 570 staff located in the UK, the USA,
Canada, 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
END
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