US investment firm Long Path to buy Idox in £339.5m deal
Summary
Long Path has agreed to buy AIM-listed software provider Idox for £339.5 million in cash. The deal values Idox at a premium to its recent share price and includes a plan to invest about £5 million into the business at closing. Long Path says it wants to strengthen Idox’s product suite and improve customer experience. Idox’s board has recommended the offer after weighing the cash value and the promise of continued investment. The deal points to further product development and operational changes under new ownership.
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Idox
$50M to $100M