Hillsborough software firm snapped up by Idox plc in £7m deal
Co Down software company Tascomi has been acquired by Idox plc for £7.15m.
Tascomi, which is based in Hillsborough, has been operating for 13 years in providing web-based software to local authorities and government departments in the UK and Ireland.
Its software can be used for planning, building control, land charges, trading standards and licensing. The firm has around 30 staff.
David Meaden, chief executive of Idox, said: "The addition of Tascomi's technology platform to Idox's deep domain knowledge and account management model will be a powerful combination that will allow us to deliver the next generation of software solutions to customers in our core public sector markets and drive enhanced shareholder value and service to customers.
"This acquisition offers a sound strategic fit as we look to enhance our overall cloud offering in conjunction with growing our SaaS (software as a service) revenue base."
Roisin Murray, programme director at Tascomi, added: "We are proud that the potential of both our products and people has been recognised by Idox plc and look forward to the positive impact their market leading position can make to our future as a group."
Allan Ewart, the chairman of Lisburn and Castlereagh City Council's development committee, said: "Tascomi's forward thinking attitude and ambition to grow is evident by the news of this planned acquisition.
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"It is a great opportunity for both companies to accelerate growth and presence in the regulatory services marketplace," Mr Ewart added.