Business
Idox Acquires Trojan Consultants Limited
Idox Acquires Trojan Consultants Limited.
About this update from Idox Plc
[{"type":"text","content":"\n\n13 May 2025\nIdox plc\n('Idox' or the 'Group' or the 'Company')\nIdox acquires Trojan Consultants Limited, a UK-based provider of Social Care software solutions\n \nAttractive expansion opportunity for Idox's Social Care business\n \n \nIdox plc (AIM: IDOX), a leading supplier of specialist information management software and geospatial data solutions to the public and asset-intensive sectors, is pleased to announce the acquisition of Trojan Consultants Limited (\"Trojan\"), which trades as Plianz (\"Plianz\"), a provider of Social Care software solutions in the UK.\n \nHighlights\nIdox will acquire Plianz for an initial enterprise value of £7.65m in cash payable from existing resources, increasing to a maximum of £7.9m contingent on achieving agreed revenue targets within 12 months of completion.\n \n· Based across two UK locations and employing 18 people, Plianz is a provider of automated software solutions to local authorities and professional deputies in legal, financial management and local government operations in the UK, helping to address the growing challenges of regulatory compliance.\n \n· Plianz delivered c.£2.5m of revenue for the year ended 31 March 2025 of which c.90% was recurring revenue. The business delivered adjusted EBITDA margins of c.25% in this period and has significant scope to grow revenues and margins upon integration into the Group. \n \n· The acquisition forms a key step in the delivery of our strategy to grow our public sector software offering. The products are complementary to the existing Idox Social Care business, with a primary focus on financial management of money and estates for vulnerable people.\n \n· The acquisition represents an opportunity to expand the market reach for the Plianz products leveraging the resources and expertise of the Idox Group and to grow our customer base and solution reach within the Social Care space. \n \n· The addition of Plianz will enhance our capabilities across the Group and add significant scale to our existing Social Care offering. Key management and personnel are expected to remain with the business.\n \n \nDa...