Idox announces acquisition of electoral software group Halarose

Iain Gilbert Sharecast | 17 Aug, 2017 11:58 - Updated: 12:01 | | |

handshake-deal
  • 60.50
  • -0.82%-0.50
  • Max: 61.00
  • Min: 59.00
  • Volume: 87,288
  • MM 200 : n/a
17:18 21/09/17
  • 2,193.37
  • -1.30%-28.95
  • Max: 2,223.87
  • Min: 2,191.18
  • Volume: 0
  • MM 200 : n/a
17:25 21/09/17
  • 991.73
  • -0.16%-1.57
  • Max: 994.74
  • Min: 991.06
  • Volume: 0
  • MM 200 : n/a
17:30 21/09/17
  • 5,633.60
  • -0.00%-0.03
  • Max: 5,654.20
  • Min: 5,626.73
  • Volume: 0
  • MM 200 : n/a
17:30 21/09/17
  • 5,020.17
  • -0.14%-7.14
  • Max: 5,038.69
  • Min: 5,015.73
  • Volume: 0
  • MM 200 : n/a
17:30 21/09/17

Public sector information management firm Idox announced on Thursday it had acquired Halarose Holdings, a supplier of electoral back office software and services in the UK for £5m.

The acquisition was in line with the group's strategic focus on the public sector and was seen as a move that would help it to form a larger, more effective elections business capable of rapidly accelerated growth with Halarose set to be completely integrated into Idox's existing elections business, Idox Elections.

The acquisition was comprised of a £3.5m cash payment and another £1.5m in shares.

The Berkshire-based firm will retain its senior management team for a minimum of two years after the acquisition.

Chief executive Andrew Riley said: "The acquisition of Halarose, which has a strong product offering, team, and track record, presents Idox with the opportunity to significantly expand its existing presence in the elections market.

"It is expected to be earnings enhancing in the first full year of ownership and supports our strategy of focusing on and investing in the wider public sector in the UK and abroad."

As of 1125 BST, shares had seen little movement and were up by just 1.76% to 62.08p.

More news

00:01 US close: Markets end lower as investors digest Fed meeting, economic data

Stocks finished lower on Thursday, as traders tried to work out the implications of the US central bank's policy announcement on Wednesday, despite a raft of better-than-expected readings on the economy.

21 Sep Europe close: Lenders pace gains in wake of FOMC decision

Banks lead Europe's main stockmarket indices to modest gains in the wake of the US central bank's policy announcement the night before with global capital markets apparently generally unruffled by the Federal Reserve's indications that it is looking to push ahead with multiple rate increases and balance sheet taper over the medium-term.

21 Sep London close: FTSE flat as investors mull latest Fed decision and UK lending figures

London stocks closed marginally lower on Thursday, giving up earlier small gains as investors digested the latest UK borrowing figures and Sterling bounced back.

21 Sep Capita dives despite making progress in first half, results 'difficult to read'

Capita reported a mixed set of results for the first six months of the year but said underlying profits would "rise modestly" in the second half compared to the first, though some investors and analysts found the numbers rather disappointing and difficult to decode.

21 Sep Capita staff prepare for strikes over pensions

Alongside Capita's labyrinthine half-year results that left many investors cold and sent the shares down 11%, the company was also forced to prepare for industrial action after unions voted to strike.

21 Sep Chevron cancels drillship contract with Transocean

Chevron blew a hole in Transocean's share price on Thursday after cancelling its contract for ultra-deep water drillship Discoverer Clear Leader one year ahead of its scheduled expiry, effective from the following November.

21 Sep Barnier fires shot across May's bows ahead of Florence speech

Ahead of the UK Prime Minister's major Brexit speech on Friday, chief European Union Brexit negotiator Michel Barnier has warned Theresa May against trying to have her cake and eat it and stressing that if a transition period is requested it will first require a withdrawal agreement.

21 Sep US open: Stocks dip as two-year yields hover near eight-year highs

Stocks are stuck in a bit of a rut as traders try to work out the implications of the US central bank's policy announcement the night before, despite a raft of better-than-expected readings on the economy.

21 Sep IG Design Group swallows Aussie card firm Biscay

Designer and manufacturer of celebration, gifting, stationery and creative play products IG Design Group announced on Thursday that it has signed a contract to acquire the trade and certain assets of Biscay Greetings, which it described as a “leading” greetings card and paper products business based in Australia.

21 Sep Friday preview: Importance of May's Brexit speech 'cannot be over-emphasised'

Theresa May's Big Brexit Speech in Florence may dominate the narrative on Friday, though for traders and investors there's PMI surveys and one from the CBI, with results from Sage and Smiths Group.