or LinkedIn here http://uk.linkedin.com/in/tonysmiththathousingitguy
Imagine my surprise today when I read that Cambridge based Castleton Technology (older hands will remember them as Redstone PLC), had snapped up another housing sector IT company. Four million pounds has changed hands to add an EDM & mobile angle to an already growing group, that looks to want to compete with Capita, Civica & Northgate in a number of UK public sectors, particularly housing.
Quote from todays press release:
"The acquisition of Documotive is an important further step in our strategy to build out a public sector focused managed services and software business," said Ian Smith (no relation - maybe way back..), chief executive of Castleton.
Castleton had snapped up outsourced managed services company Montal http://tonysmiththathousingitguy.blogspot.co.uk/2014/06/bought-sold.html earlier this year. This was after stating a new strategy to "become a leading provider of IT managed services to the public and not‑for‑profit sectors" in March 2014.
Interestingly, Documotive will receive over £1m to further develop their Agile branded mobile system, which has been gaining a lot of traction in the housing sector. I was with an agile mobile customer earlier this week, who was very complementary about the product, how users had taken to it and support around it.
MXC Capital Advisory acted as sole financial adviser to Castleton and will be funding the Agile development, under the new moniker of '365 Agile Ltd'.
It will be interesting to see how this impacts on housing sector customers of Documotive. Customers can access the last posted accounts from Castleton (Sep 2013) on this link http://www.castletonplc.com/assets/files/investors/RedstoneAnnual%20Report2013.pdf
Next time Dav or Jonathan offers to get me a drink, mine will be a double Courvoisier!
Related Post: What happened to the paperless office then?
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