Idox completes £5.6m acquisition

SOFTWARE supplier Idox, which has an operation in Wilmslow, has acquired a facilities management software business for £5.6m.

It has bought Sussex-based FMx which has 24 staff and reported an operating profit of £900,000 on sales of £2.7m in the year to March.

The acquisition has been funded from London-based Idox’s cash and debt facilities.

Chief executive Richard Kellett-Clarke, CEO of Idox, said: “This acquisition is an important step in our strategy to extend our engineering information management solutions across the full operational lifecycle of commercial real estate and operational assets.”

Idox’s Wilmslow base is the former J4B business which it acquired for £800,000 in 2009.