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
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