IDOX plc acquired Emapsite.Com Limited from James Cutler, Masdar (U.K.) Limited, Justin Saunders, Michael Slater, Susan Slater, Richard Pickance, David Warwick and a group of employees for £15.8 million.
August 20, 2023
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IDOX plc (AIM:IDOX) acquired Emapsite.Com Limited from James Cutler, Masdar (U.K.) Limited, Justin Saunders, Michael Slater, Susan Slater, Richard Pickance, David Warwick and a group of employees for £15.8 million on August 21, 2023. Idox will pay a total cash consideration of up to £15.75 million on a cash-free, debt-free basis. £14.75 million will be satisfied in cash upon completion payable from Idox's existing financial resources, with £1.0 million cash deferred to a future date anticipated to be within 12 months to cover warranties and indemnities. For its financial year ended March 31, 2023, Emapsite reported revenues of £10.9 million and Profit before tax of £0.5 million and Gross Assets were £5.1 million. 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. Peel Hunt LLP acted as advisor in the transaction.
IDOX plc (AIM:IDOX) completed the acquisition of Emapsite.Com Limited from James Cutler, Masdar (U.K.) Limited, Justin Saunders, Michael Slater, Susan Slater, Richard Pickance, David and Warwick a group of employees on August 21, 2023.
Idox plc is a United Kingdom-based supplier of specialist information management software and solutions to the public and asset intensive sectors. The Company operates through three segments: Land Property & Public Protection (LPPP), Assets, and Communities (COMM). Its LPPP segment delivers specialist information management solutions and services to the public sector. The Companyâs Assets segment delivers engineering document management and control solutions to asset intensive industry sectors. Its COMM segment delivers software solutions to clients with social value running through their core. Its solutions include regulatory services, engineering information management, computer aided facility management (CAFM), public protection, electoral services, social care and special educational needs and disabilities (SEND), sexual health management, funding and information services, transport network management, hospital asset tracking and records management, and address data solutions.
IDOX plc acquired Emapsite.Com Limited from James Cutler, Masdar (U.K.) Limited, Justin Saunders, Michael Slater, Susan Slater, Richard Pickance, David Warwick and a group of employees for £15.8 million.