REG - IDOX PLC - Idox Acquires Trojan Consultants Limited

IdoxAnnouncement

13/05/2025 07:00

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RNS Number : 2953I  IDOX PLC  13 May 2025

13 May 2025

Idox plc

('Idox' or the 'Group' or the 'Company')

Idox acquires Trojan Consultants Limited, a UK-based provider of Social Care
software solutions

 

Attractive expansion opportunity for Idox's Social Care business

 

 

Idox 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.

 

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."

 

 

For further information please contact:

 

 Idox plc                               +44 (0) 333 011 1200
 Chris Stone, Non-Executive Chairman    investorrelations@idoxgroup.com
 David Meaden, Chief Executive Officer
 Anoop Kang, Chief Financial Officer

 Peel Hunt LLP (NOMAD and Broker)       +44 (0) 20 7418 8900
 Benjamin Cryer
 Kate Bannatyne
 Adam Telling

 MHP                                    + 44 (0) 7855 447944
 Reg Hoare                               idox@mhpgroup.com (mailto:idox@mhpgroup.com)
 Ollie Hoare
 Matthew Taylor
 Finn Taylor

 

 

About Idox plc

For more information see www.idoxplc.com
(https://protect.checkpoint.com/v2/___http:/www.idoxplc.com/___.bXQtcHJvZC1jcC1ldXcyLTE6bmV4dDE1OmM6bzpmMmM2NGZiZmRiOGI3MTYzYmYzZGIwMjliZGQ4NjM2Nzo2OjEyMzI6NTY2MzdiNWFkMDE1YWY1MDA4ZGE3YzA0MTBlN2ZmNGEzZjBiYmQ2NTM0ZTIxMWMxMzgwNThhNDdlZTVhN2I2NzpwOkY6Tg)
@Idoxgroup

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