ILX Group Plc Announces Acquisition Of TFPL Ltd From Idox Plc

ILX Group Plc announced the conditional acquisition of TFPL Ltd (TFPL), a recruitment, training and consulting business, from Idox plc for a maximum consideration of GBP0.6 million. The consideration for the Acquisition comprises an upfront payment of GBP0.3 million, deferred consideration of GBP50,000 payable if TFPL's net fee income for the year to October 31, 2013 reaches GBP1.05 million, and a single earn-out payment of up to GBP0.25 million payable in full if TFPL's net fee income exceeds GBP1.3 million in the 12 months to June 30, 2014. All consideration is payable in cash.