Aliter Capital backed Sponge has completed the acquisition of Idox Compliance, a leading EU-based corporate compliance digital learning specialist, from Idox plc. This provides Sponge with an operating presence in the EU for further growth and strengthens its library of market leading, ready-to-go compliance-related content.
With operations in Germany, Belgium and the UK, Idox Compliance provides corporate compliance eLearning solutions to customers across Germany, Austria, Switzerland and the rest of Europe. Idox Compliance’s leading corporate compliance content, large corporate relationships and geographic footprint are complementary to Sponge’s existing business, which has been created by Aliter Capital through bringing together three digital learning businesses, Bolt Learning, Sponge and Skill Pill.
BDO provided financial and tax due diligence and SPA advice to Sponge Group Limited.