Elliott, who chairs fellow Edinburgh-based company Craneware, which specialises in developing billing software for the US healthcare sector, will join the IndigoVision board on Thursday and take the helm on 1 July, succeeding current chairman Hamish Grossart.
• READ MORE: IndigoVision aims to return £850,000 to shareholders
Grossart, who is retiring after two decades as chairman, said: “His extensive experience and track record of delivery for shareholders within the technology sector mark him out as having ideal credentials to guide the executive management team in growing the business further, and in unlocking the value potential built within IndigoVision over the last 20 years.”
Elliott is also chairman of Fife-based Cooper Software and a non-executive director at venture capital firm Par Equity.
Aim-quoted IndigoVision last week announced plans to return about £850,000 to investors through a share buyback programme. The firm said the move was aimed at benefiting its earnings per share and helping to close a “persistent gap” between its market capitalisation and the board’s assessment of its intrinsic value.
The company recently said that its outlook was “more positive than it has been for some time” following an improvement in sales and orders.