LONDON (Alliance News) - Castleton Technology PLC on Monday said it has acquired housing management and finance software provider Kypera Holdings Ltd for GBP5.0 million in cash.
Kypera has offices in the UK and Australia, while also having a presence in New Zealand and South Africa. It made sales of GBP2.4 million and earnings before interest, tax, depreciation and amortisation of GBP0.4 million in the year ended October 31, 2015.
Castleton, which provides software and managed services to the public and not-for-profit sectors, said the acquisition will allow it to offer its enterprise resource planning (ERP) platform service in the social housing sector.
"This is a critical acquisition for us. Kypera adds a whole new level to Castleton's offer. We are now the only truly integrated, single ERP platform solution able to meet every aspect of our customers' needs - the only 'one stop shop' serving the sector. Kypera also increases our international reach, something we are planning to build on in the future," Chief Executive Ian Smith said in a statement.
Shares in Castleton were trading up 2.1% at 84.22 pence on Monday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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