Acquisition

RNS Number : 4613J

IDOX PLC

31 March 2010

 



31 March 2010

IDOX plc

Acquisition of managed-services contracts for £2.9m 

IDOX plc (AIM: IDOX, 'IDOX' or the 'Company'), a leading supplier of software and services to the UK public sector, has agreed to acquire for £2.9m 11 long-term managed service contracts for the provision of land and property information solutions to UK Local Authorities from Macdonald, Dettwiler and Associates. The acquisition will be funded from existing cash resources, with completion expected in April on novation of the contracts and transfer of support staff and infrastructure. 

IDOX will take over provision of the on-going managed-services under the contracts, where initial implementation has been successfully completed.  The agreements are part of the government's Local Authority Modernisation Programme and have estimated lifetime revenues of £7.2m.

Their acquisition will significantly expand IDOX's managed-service, outsourcing and partnership offerings for local government, providing additional opportunities for contract extensions and cross selling into the new customer base.    

Martin Brooks, IDOX Chairman said:

"This acquisition is a considerable boost for our developing managed-services business and increases our long-term recurring revenues and market share in the land and property sector. It provides additional foundations on which we can build a substantial offering for local authorities that need to reduce costs and improve both efficiency and predictability through the use of long-term managed services."

Enquiries:

IDOX	020 7332 6000
Martin Brooks, Chairman
Richard Kellett-Clarke, Chief Executive
William Edmondson, Chief Financial Officer
Investec	020 7597 4000
Andrew Pinder / Erik Anderson
College Hill	020 7457 2020
Adrian Duffield / Carl Franklin

About IDOX plc

IDOX plc is a supplier of software solutions and services principally to the UK public sector and the leading applications provider to local government for core functions relating to land, people and property through its UNI-form, Plantech and IDOX product range. Over 75% of UK local authorities are customers.

The Group gives public-sector organisations the tools to manage information and knowledge, documents and content, business processes and workflow as well as connecting directly with the citizen via the web.

It also supplies decision support content and additional specialist services via the IDOX Information Service and its J4B business, as well as transforming approaches to knowledge and content management via consultancy and training. In addition it provides these specialist skills to customers through its TFPL branded recruitment division.

For more information see www.idoxplc.com

About  Macdonald, Dettwiler and Associates (MDA)

MDA serves its worldwide customer base from more than 25 offices located throughout the United States, the United Kingdom, and Canada employs over 3,200 people. The Company delivers a broad spectrum of information solutions including complex operational systems, tailored information services and electronic information products and operates through two reporting segments: Information Products and Information Systems. The Company's common shares trade on the Toronto Stock Exchange under the symbol "MDA".

For more information see www.mdacorporation.com

 

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