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Idox PLC on Monday said it is buying geographic information systems data provider Emapsite.com Ltd. The Reading, England-based supplier of information management software for public and ‘asset intensive’ sectors said its £15.8 million buy will be on a cash-free basis and debt-free basis, with £14.8 million to be satisfied in cash from Idox’s existing financial resources. £1.0 million will be via cash deferred to a future date expected to be in the next 12 months. Idox said Emapsite is based in Farnborough, Hampshire and employs 33 people. It provides ‘geospatial data to the UK market for customers associated with land and property across a wide range of vertical industries including energy, infrastructure, environmental, telecommunications, and construction sectors.’ Idox Chief Executive Officer David Meaden said: ‘Emapsite is an important acquisition for Idox and one that strengthens our existing geographic information systems, mapping and data capabilities. 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. We look forward to welcoming all Emapsite colleagues to Idox and are confident and excited that the combination will drive increased value for all stakeholders.’ Idox shares were flat at 61.60 pence each on Monday morning in London. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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