IDOX Grantfinder Acquisition Under OFT Investigation

22nd Jun 2010 15:30

LONDON (Dow Jones)--IDOX Plc (IDOX.LN), a supplier of software and services to the U.K. public sector, announced Tuesday that the company is under investigation by the Office of fair trading or OFT regarding its acquisition of Grantfinder Ltd. MAIN FACTS: -The OFT is considering whether the acquisition should be referred to the Competition Commission. -IDOX will fully engage with the OFT in its investigation. -Grantfinder was acquired on behalf of the company's Information Solutions Division for its specialist content and recorded revenues of GBP1.6 million for the year ended Sep. 30, 2009. -Shares at 1427 GMT stood at 11.25 pence. -By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; [email protected] (END) Dow Jones Newswires June 22, 2010 10:30 ET (14:30 GMT)