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Idox beefs up geospatial offering with Emapsite acquisition
(Sharecast News) - Idox, which sells management and regulation software to UK councils and local government, has acquired UK GIS and geospatial data provider Emapsite for £15.8m. The acquisition will expand the company's geospatial business to around 20% of total revenues.
Emapsite is based in Farnborough and employs 33 people, providing geospatial and geographic information systems data to UK customers associated with land and property across a number of industrial sectors. It generated £11m in revenues in its most recent financial year, along with a pre-tax profit of £0.5m.
Idox chief executive David Meaden said Emapsite is an "important acquisition for Idox and one that strengthens our existing GIS, mapping and data capabilities."
He said: "We believe that the combination of Emapsite with our existing Geospatial businesses is very complementary and will allow us to deliver new products and capabilities to the customers of both organisations."
The acquisition is being made on a cash-free, debt-free basis, with £14.8m paid upon completion and £1m in cash deferred to a future datee.
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