Member Article

Berkshire's Idox acquire German competitor

Reading-based supplier of software & services Idox plc has acquired German firm, Digital Spirit GMBH, undisclosed sum from Infinitas Learning BV.

Digital Spirit, based in Berlin, provides compliance software and content to corporate, public and commercial customers across Europe.

The newly acquired firm is complementary to Idox’s e-learning software business, Interactive Dialogues, which it acquired in November 2011.

Digital Spirit reported revenues of €6.5 million and underlying operating loss of €0.6 million in the year ended 31 Dec 2013.

The acquisition will be funded from Idox’s cash and existing debt facilities and is expected to be break-even in 2015 and start to make a positive contribution during the following year.

Digital Spirit will be merged with the Group’s Interactive Dialogues business, which is part of the Public Sector Software Division (PSSD); and both will be re-branded corporately as Idox Compliance.

Richard Kellett-Clarke, CEO of Idox, said: “This acquisition is an important step to further strengthen our solutions outside the UK and to penetrate more of Europe. “Digital Spirit has an excellent reputation in the market place for delivering a flexible and functionally rich solution. “The acquisition is expected to more than double our presence in the fast growing segment of the European compliance and e-learning market.”

This was posted in Bdaily's Members' News section by Ellen Forster .