Idox has reported FY 2016 results in line with our forecasts and consistent with the November trading update. Double digit growth in revenue (+23%) and adjusted profits (Adj EBITDA +18%) were confirmed. The company has also announced a strategic acquisition; Idox is entering the Healthcare segment via 6PM Holdings plc, a leading provider of healthcare solutions, to be acquired for a total EV of c£35m. Following the announcements, we upgrade FY 2017E revenue and EBITDA by 11% and 12% respectively.