Proposed Acquisition

i-documentsystems Group PLC 25 March 2002 For immediate release 25 March 2002 i-documentsystems group plc Proposed acquisition of The Planning Exchange i-documentsystems group plc, which specialises in the provision of e-government solutions to local authorities, announces that it has signed heads of agreement which, subject to certain conditions, will lead to the group acquiring the business and assets of The Planning Exchange for a consideration, including further investment, of approximately £1m. The Planning Exchange provides content and information services to the planning and wider community on aspects of economic, environmental and physical regeneration and development in the UK to a client base of 315 subscribers, of which approximately a third are local authorities. Other clients include government departments, consulting firms, housing organisations and research bodies. i-documentsystems believes the two companies strongly complement each other, which will result in building new revenue streams from combined offerings as well as synergies in both marketing and product development. -ENDS- For further information please contact: Andrew Fraser, CEO - i-documentsystems group plc T: 020 7353 5008 Tim Bowen, CFO - i-documentsystems group plc T: 020 7353 5008 Nadja Vetter, Cardew & Co. T: 020 7930 0777 Notes to editors: i-documentsystems group plc is a fast-growing software company which specialises in the development of products for document, content and information management. The Group's principal product is Image-Gen, a sophisticated web-based software package which allows complex paper-based processes to be automated. The Image-Gen Java-based applications are ideally suited to meet e-Government requirements. This market presents significant opportunities, as there are 468 local authorities in the UK, all of which are expected to comply with the Prime Minister's directive to ensure that the bulk of Local Government services are available electronically by 2005. The company has a leading position in putting the Local Government Planning process online and there has been growing interest in capabilities from other local authority departments. The Group's recently opened Glasgow office, together with increased staffing, has enabled the company to pursue some interesting new business opportunities and anticipates growth in delivering other services electronically The Group also developed UKPlanning.com, an ASP (Application Service Provider) model for local authorities to store and index planning documents in order to make them available for public inspection on the internet. Rather than each council separately developing the expertise, i-documentsystems would provide this service on an outsourced basis using its existing Image-Gen technology. The resource base of Glasgow based The Planning Exchange comprises around 83,000 items of information and includes approximately 30 staff dedicated to finding information and delivering material or solutions in ways which enable customers to turn information into intelligence. Its membership based information and library service is bought in by organisations and companies, large and small, in the public and private sectors, to complement and add capacity to in-house research and information gathering. This information is provided by RNS The company news service from the London Stock Exchange

Companies

IDOX (IDOX)
UK 100

Latest directors dealings