Deals in 2012
Sold to Idox Plc
Sector Electronic Voting Software
ICON Corporate Finance advises election software and managed services provider Opt2Vote on its sale to Idox Plc
ICON Corporate Finance is delighted to announce the sale of Opt2Vote. Opt2Vote provides outstanding expertise and knowledge across all areas of election management and specialises in the provision of managed services solutions and market leading innovation in areas such as e-Counting and Early Voting. Opt2Vote supplies electronic vote counting solutions to 32 Scottish local authorities as well as managed print services to a large number of UK councils.
This new acquisition by Idox complements their acquisition of Strand Electoral Software in 2010 and by combining the strength of the Strand software solutions with the Opt2Vote product and services, Idox will be able to deliver a seamless and comprehensive range of leading democratic solutions and managed services to its customers.
As a combined business more than a third of the council elections across the UK and elections for the Mayor of London and London Assembly, taking place in May 2012, will be supported by the Idox group. The government’s localism agenda will see increases in the number of local elections and changes in the way that elections are managed. Both Opt2Vote and Strand will be supporting new mayoral elections and the police and criminal commissioner elections in May and November of this year. This leaves Idox well placed in the democracy market at a time when the number of local elections continues to increase as part of the government’s plan to increase local decision making.
Richard Kellett-Clarke, CEO of Idox, commenting on the acquisition said: "This acquisition of Opt2Vote further cements our strategy to deliver a broad range of electoral software solutions and managed services at a key time for local authorities. We already understand the efficiency gains able to be delivered by Opt2Vote’s managed print services and the successful outcomes of the Scottish e-counting pilots which will be used live in the forthcoming local elections. As plans for increased local democracy are implemented, councils will need to consider how associated costs are able to be controlled and have access to tried and tested software solutions that offer efficient management with minimal risk.”
ICON Corporate Finance, led by Alan Bristow acted as advisers to Opt2Vote and ran a competitive sale process with Idox Plc being selected as the preferred buyer.
Alan Bristow, added: “Idox is one of the market leaders in election management services and the acquisition of Opt2Vote will strengthen their position in this sector as the market for managed election services expands and new technologies are adopted Opt2Vote is a recognised innovator in the market and the combination with Idox provides a very exciting future for this Northern Ireland based business.”