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Idox sells compliance operation business to Sponge Group for £9m
StockMarketWire.com
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Information management software company Idox said it had agreed to sell its compliance operation business to Sponge Group, a digital learning and technology company, for £9.0 million in cash.
The compliance operations business, part of Idox's content division is based in Germany and Belgium and employs 48 people.
The proceeds of the disposal would be used to pay down debt, which stood at £16.1m as at 31 October 2020, and to for investment to boost its organic and inorganic growth strategy, the company said.
At 8:03am: (LON:IDOX) Idox Plc share price was 0p at 48.4p
Story provided by StockMarketWire.com
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