Idox plc

Market Cap (£m) 257.6
Listing AIM

Company Description

Idox has a strong position in software for Local Authority and other UK governmental organisations, including a significant presence in the market for voting software and in software for the NHS, through its Public Sector Software (PSS) division.  The group is also active in the market for Engineering Information Management software (EIM), on a more global basis.  The group is now transitioning to the third stage of its three-stage plan, involving both organic and inorganic revenue growth, focus on margin expansion and ongoing migration towards more Cloud-delivered and Software-as-a-Service (SaaS) offerings.  In addition to revenue growth and margin enhancement, Idox sees organisational simplicity and information/communication as key pillars of its strategic framework.

Investment Summary

The group has been through a significant period of refocus and revitalisation over the past few years.  The new management team has driven a process of material change, and has refined the focus and strategic outlook for the business; this has resulted in clear plans for the Government and Engineering segments, and the disposal of the previously-owned Compliance businesses.  In the Government arena, we see more spending on technology to transform and improve public service delivery; this should provide opportunities for both organic growth and M&A activity to continue consolidating the space. In the Engineering market, we expect organisations to continue to evolve their offerings and digitalise both their information databases and their workflows, all of which should play to the Idox Engineering division's strengths.

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Company Management Team

  • David Meaden

    Chief Executive Officer

    David has a proven track record as a business leader and strong knowledge of the UK public sector. He joined Idox, following a successful 22-year career with Northgate Information Solutions plc, a FTSE 250 company. At Northgate, he served as a member of the plc board and was CEO of Northgate Public Services, where he grew the business fourfold. David has significant experience of managing business transformation, software development and integration of acquisitions. He has a degree in Business Studies from the University of Huddersfield.

  • Anoop Kang

    Chief Financial Officer

    Anoop has overall responsibility for leading the Group’s finance function as well as acting as an Executive Director and member of the plc board. As an experienced CFO, Anoop brings expertise of leading large finance teams, investor relations, M&A, corporate governance, risk management, treasury and financial accounting and analysis to Idox. He began his career at Deloitte LLP, before moving to Balfour Beatty plc in 2010. At Balfour Beatty, Anoop performed a number of senior roles, including Finance Director of the rail division and Head of Investor Relations, before becoming Group Financial Controller of Kier Group plc. Subsequently, Anoop was appointed as Group CFO of Cambian Group plc and then Logistics Development Group plc. He is a fellow of the Institute of Chartered Accountants of England and Wales.