Castleton Technology (CTP), which provides software and managed services to the public and not-for-profit sectors, is acquiring Castleton India for £350,000 – comprising 200,331 ordinary shares of 2p in the Castleton group, and £150,000 in cash.
Castleton India – previously known as CarbonNV InfoLogic India Private Limited – has offices in Bangalore and Vadodara. Castleton’s chief executive Dean Dickinson said the acquisition follows a “very successful working relationship between the UK and Indian teams over the past 11 months”, during which time Castleton has had a service agreement with the Indian business. The deal has allowed Castleton to bring new products to the market faster, and less expensive.
The acquisition will complete when the new ordinary shares are admitted – expected on 22 February 2019.
