Castleton's £82.8m acquisition completes

Housing market supplier makes second UK acquisition this year

Castleton Technology has been acquired by housing specialist MRI Software after shareholders of both firms gave the deal the green light.

The £82.8m acquisition, announced in April, is the US firm's second in the UK this year, having snapped up Newcastle-based Orchard Information Systems in March.

MRI CEO Patrick Ghilani said: "The acquisition of Castleton is an important step in our drive to deliver greater scale and broaden our offering in the UK housing sector.

"The combination of Castleton and Orchard also extends our comprehensive residential market proposition, MRI Living, and brings together invaluable industry experience and expertise to drive further innovation and accelerate the delivery of new advancements to social/affordable housing operators and residential property managers in multiple regions across the globe."

Castleton operates in the housing markets in the UK, Ireland and Australia.

CEO Dean Dickinson said: "Joining the MRI family is a great opportunity for Castleton and our clients, providing us with the breadth and global expertise to move to the next stage in our growth and evolution.

"MRI will build on Castleton's capabilities and we'll be able to leverage our combined resources to continue addressing the varying needs of the social housing sector in the regions we serve."