Commercial law firm Hill Dickinson has advised UK software group Astuta Limited on the sale of Trojan Consultants, a provider of social care software solutions that trades under the name Plianz, to Idox plc.
Idox has acquired Plianz for an initial enterprise value of £7.65 million in cash payable from existing resources, increasing to a maximum of £7.9 million contingent upon achieving agreed revenue targets within 12 months of completion.
Based across two UK locations and employing 18 people, Plianz is a provider of automated software solutions to local authorities and professional deputies in legal, financial management and local government operations in the UK, helping to address the growing challenges of regulatory compliance.
Idox, a leading supplier of information management software and geospatial data solutions to the public and asset-intensive sectors, will employ the suite of complementary products it has gained through its acquisition of Plianz to expand its existing social care business with a focus on financial management of money and estates for vulnerable people.
Partner Sean Lightfoot and associate James McCarthy, of Hill Dickinson’s Corporate team, advised Astuta on the sale.
Astuta acquired Trojan Consultants in 2019 and helped grow the business under its trading name, Plianz, to a point where stratgeic sale to Idox represented a sound move for both parties. We were delighted to advise Astuta on the sale and wish them well as they continue their growth journey as part of Idox.Sean Lightfoot
Corporate Partner
Sean Lightfoot said: “Astuta acquired Trojan Consultants in 2019 and helped grow the business under its trading name, Plianz, to a point where stratgeic sale to Idox represented a sound move for both parties. We were delighted to advise Astuta on the sale and wish them well as they continue their growth journey as part of Idox.”
Astuta’s key management and personnel are expected to remain with the business.