Mergers and Acquistions News
Categories: Media & Information Services
April 24th 2009, 9:43AM
IDOX, a UK-based software firm, has acquired the entire issued share capital of J4B Software and Publishing Limited.
The acquisition of J4B, a provider of web content principally to local authorities, was made for a cash consideration of £0.8 million, funded from current resources.
With its main operations in the UK and the Netherlands, J4B supplies value-added databases of government and EU funding information.
It had revenues of £2 million for the year ending December 31st 2008, as well as net assets of £0.2 million.
According to IDOX, the acquisition is in line with a strategy of providing software, solutions and services to government and related organisations.
"J4B is an attractive earnings-enhancing acquisition for us that reinforce our supporting content business, thereby strengthening our wider capabilities in the local authority and related markets," said Martin Brooks, IDOX chairman.
Earlier in the month, IDOX was informed that Rensburg Sheppards Investment Management Limited had a notifiable interest in the company, with shares representing a little over five per cent of the total share capital.
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