Idox announced the acquisition of Halarose Holdings, a supplier of electoral back office software and services to UK local authorities for £5.0m, comprising £3.5m in cash and £1.5m in shares. This acquisition broadly doubles Idox Elections customers to c.140 and positions the group as UK’s second largest supplier of electoral back office software and services. Idox is paying a c. 4.5x LTM EBITDA multiple, about half the multiple it is trading on, for a business that significantly strengthens its ....
17 Aug 2017
N+1 Singer - IDOX - Attractive £5.0m acquisition in Public Sector, strengthens position further
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N+1 Singer - IDOX - Attractive £5.0m acquisition in Public Sector, strengthens position further
Idox plc (IDOX:LON) | 61.7 0.9 2.3% | Mkt Cap: 283.4m
- Published:
17 Aug 2017 -
Author:
Tintin Stormont -
Pages:
4
Idox announced the acquisition of Halarose Holdings, a supplier of electoral back office software and services to UK local authorities for £5.0m, comprising £3.5m in cash and £1.5m in shares. This acquisition broadly doubles Idox Elections customers to c.140 and positions the group as UK’s second largest supplier of electoral back office software and services. Idox is paying a c. 4.5x LTM EBITDA multiple, about half the multiple it is trading on, for a business that significantly strengthens its ....