LONDON: Idox plc (AIM: IDOX), a leading supplier of specialist information management software and geospatial data solutions to the public and asset-intensive sectors, announced the acquisition of Trojan Consultants Limited, which trades as Plianz, a provider of Social Care software solutions in the UK.
Highlights
Idox 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.
· 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.
· 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.
· 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.
· 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.
· 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.
David Meaden, CEO of Idox commented: “The strategic acquisition of Plianz strengthens our existing Social Care offering and continues to build on our strong public sector software capabilities. This expansion of the Idox solution in the social care sector is a great development for us as a business broadening our capabilities and continuing to enhance the expertise and solutions we provide for this critical sector. We look forward to welcoming the Plianz team to Idox and are confident that the combination will be accretive, driving increased value for all stakeholders.”