J4B Software sold to IDOX
J4B Software and Publishing, based in Wilmslow, has been bought by IDOX for £800,000.
J4B provides online databases of government and EU funding information and IDOX said the acquisition is in line with its strategy of providing software and services to government and related organisations.
The AIM-listed company added that it will enhance the capabilities of its existing IDOX Information Service, which provides subscription-based content to complement the company’s core software business.
Jeremy Philips, a shareholder and managing director of J4B, will join the executive team of IDOX.
J4B, previously a part of Plus-listed J4B plc had revenues of £2m for the year to the end of December 2008. At the end of March 2009, its operating profit stood at £300,000 and it had net assets of £200,000.
It employs 30 people, with a further 10 at a base in the Netherlands.
Martin Brooks, chairman at IDOX, said: “J4B is an attractive earnings-enhancing acquisition for us that reinforces our supporting content business, thereby strengthening our wider capabilities in the local authority and related markets.”
The Manchester office of law firm Cobbetts advised the J4B shareholders.
