9 February 2011 – acquisition
The software and services group has announced that it is to expand its product offering as it has acquired Lalpac Ltd, a leading provider of licensing management software. The company supplies 131 local authorities with software and services covering the full range of licensing including taxis and private hire firms, gambling and general licensing functions. IDOX is paying up to £2.6m in cash for the business, which is expected to be earnings enhancing immediately. IDOX has expanded aggressively over the last few months, making a number of acquisitions, and these have extended the range of services offered by the group which has the opportunity to cross sell these into its core customer base of local authorities. Despite the good performance of the shares, they remain CHEAP.