Idox acquisition of Aligned Assets accelerates local authority software drive
£10.5 million investment is latest strategic move focused on complementing Idox’s core strengths in the key growth area of public sector cloud offerings.
Tuesday June 8th, 2021, London – Idox plc, a leading supplier of specialist information management software and solutions to the public and asset-intensive sectors, has acquired UK-based public sector software business Aligned Assets – a move that strengthens Idox’s market-leading technology offering to local authorities.
The £10.5 million deal (initial £7.5 million cash and £3 million earnout) of Aligned Assets, which has provided software solutions to local authorities and a range of other public and private sectors for Address Management Solutions for over 20 years, adds to Idox’s existing portfolio of local government focussed solutions which focus on built environment, public protection, transport, elections, and social care.
Idox believes its own strong IP and Idox Cloud, when combined together with the complementary Aligned Assets solutions, will be a major catalyst for an overall improved customer experience and future organic growth within the enlarged group.
It is the latest milestone in a focussed restructuring by Idox to strategically align the business to focus on its chosen software markets and growing demand. Earlier this year, it announced the sale of its Dutch Consultancy business as well as its International Compliance business.
This strategy will see Idox focus on its key software markets by continuing to build highly innovative and complex solutions that, when combined with the excellent service the company is renowned for amongst its local authority customers will further create new opportunities and elevate the business.
Commenting on the acquisition, David Meaden, CEO of Idox said: “This is a valuable acquisition for Idox that builds on our public sector software focused growth strategy. Having recommended Aligned Assets to existing customers to use alongside our own built environment software, the acquisition will enhance and optimise our current offering and is a natural fit.
“We look forward to welcoming the Aligned Assets team to Idox and are confident that the combination will drive value for the customers of both organisations and for shareholders.”