Business
Acquisition
Acquisition.
About this update from Idox Plc
[{"type":"text","content":"\n\n21 August 2023\nIdox plc\n('Idox' or the 'Group' or the 'Company')\nAcquisition\n \nIdox acquires Emapsite.com, a UK based Geospatial data specialist\nforming a key step in its delivery of its data strategy\n \nldox plc (AIM: IDOX), a leading supplier of specialist information management software and solutions to the public and asset-intensive sectors, is pleased to announce the acquisition of Emapsite.com Limited (\"Emapsite\"), a leading UK based geographic information systems (GIS/Geospatial) data provider.\nHighlights\n· Idox will acquire Emapsite for a total cash consideration of up to £15.75m on a cash-free, debt-free basis. £14.75m will be satisfied in cash upon completion payable from Idox's existing financial resources, with £1.0m cash deferred to a future date anticipated to be within 12 months to cover warranties and indemnities.\n \n· Based in Farnborough and employing 33 people, Emapsite is a successful provider of Geospatial data to the UK market for customers associated with land and property across a wide range of vertical industries including energy, infrastructure, environmental, telecommunications, and construction sectors.\n· The acquisition is in line with Idox's stated intention to target complementary and accretive deals and forms a key step in the delivery of our data strategy, as well as offering strong cross-sale opportunities in the combined Group for both data and software services.\n \nThe addition of Emapsite will enhance our data capabilities across the Group and add significant scale to our existing Geospatial offering provided by the recent acquisitions of Aligned Assets, thinkWhere, Exegesis and LandHawk. Emapsite will be integrated within and report as part of Idox's Land, Property & Public Protection segment. Following the acquisition, and on a pro forma basis, the Geospatial line of business will have annualised total revenues of c.20% of Idox's total revenues.\nHaving reported a small net cash position at the half year ended 30 April 2023, Idox retains further resources in place to fund its attractive M&A pipeline, including a £35.0m revolving credit facility and £10.0m accordion.\nDavid Meaden, CEO of Idox commented:\n\"Emapsite is an important acquisition for Idox and one that str...