U.S.-based investment powerhouse Long Path Partners announced Tuesday that a subsidiary under its control will acquire Idox PLC, a U.K. software and services company, for £339.5 million ($450.7 million) — a move designed to fuel the company’s growth and strengthen its foothold in digital infrastructure and government software solutions.
The acquisition vehicle, Frankel UK Bidco Ltd., has offered 71.5 pence per share in cash, representing a 26.8% premium over Idox’s Monday closing price of 56.4 pence on London’s AIM market.
Long Path, which already owns about 12% of Idox’s shares, will back the takeover through a scheme of arrangement under the U.K. Companies Act, marking another strategic transatlantic acquisition in the tech space.
Deal Approvals and Conditions
To complete the transaction, at least 75% of Idox shareholders must vote in favor. The deal also requires scrutiny under the National Security and Investment Act 2021 and foreign investment approval from France, as Idox maintains contracts with critical infrastructure entities such as energy providers and national railways across Europe.
Legal heavyweights have been tapped to guide the process. Kirkland & Ellis LLP represents Long Path, with corporate partners Stuart Boyd and Victoria Legg at the helm, while Pinsent Masons LLP advises Idox, led by Rosalie Chadwick and Adam Cain, specialists in public mergers and acquisitions.
Completion is expected by early 2026, pending regulatory and shareholder approvals.
