IDOX plc Acquisition of e-learning and information solutions business
IDOX plc (AIM: IDOX, 'IDOX' or the 'Company'), a leading independent supplier of software and services, has acquired Interactive Dialogues Limited and Interactive Dialogues NV ("ID") for a total consideration of €2.2m (£1.9m) in cash.
ID is a leading supplier of e-learning and information solutions in Europe enabling organisations to conduct 'dialogues' with employees, customers and suppliers to achieve legislative compliance in areas such as Competition Law and the UK Bribery Act. The company is based in the UK and Belgium and its global client base includes Associated British Foods, Hays, E.ON AG, Alstom, PricewaterhouseCoopers, AB InBev and Xstrata.
An initial payment of €2m has been made on completion and a further €0.2m is payable one year after completion subject to the fulfillment of certain conditions. ID had revenues of €2.4m for the year ended 31 May 2011.
The acquisition of ID extends the range of solutions available within the Idox Information Solutions business and provides Idox with an e-learning platform that will be used to support customers across the Group.
Richard Kellett-Clarke, IDOX CEO, said:
"ID provides a compelling mix of content and software that fits with our core information solutions strategy of delivering quality datasets through robust technology in markets where we can develop a leading position. Integrating ID into our information solutions business enables us to leverage our core skills. This will accelerate growth in the ID business as well as developing online learning propositions across our existing customer base in both the public and private sectors."