Castleton Technology PLC Contract Wins (9721B)
April 10 2017 - 2:00AM
UK Regulatory
TIDMCTP
RNS Number : 9721B
Castleton Technology PLC
10 April 2017
Castleton Technology plc
("Castleton", the "Group" or the "Company")
Contract Wins
Castleton Technology plc (AIM: CTP), the software and managed
services provider to the public and not-for-profit sectors, is
pleased to announce that it has secured two multi-year contracts
extending the Group's contract base and level of recurring revenue
across both its Managed Services and Software Solutions
divisions.
The first is a seven year contract with North Hertfordshire
Homes with a total contract value ("TCV") of GBP2.6 million for the
provision of a fully managed hosted desktop service.
The second is a three year contract with a community
regeneration and housebuilding company for Castleton's scheduling
software product, Impact. The contract is on an annually recurring
subscription basis with a TCV of GBP0.8 million over the three year
term.
Dean Dickinson, CEO of Castleton, said: "These significant
contracts are evidence of the progress we are making with our
stated strategy of growing recurring revenue and moving away from
one-off transactions. Furthermore, they are evidence of how
well-placed we are to win new customers and bigger contracts within
our chosen sectors. As we expand our customer base, we are also
seeing increasing opportunities for upselling and cross selling
other products and services across the Group, giving me great
confidence in Castleton's future prospects."
Mick Gallagher, Director of Resources at North Hertfordshire
Homes said: "We are delighted to be working with Castleton in
supporting the transformation of our IT and Digital service offer
to colleagues and customers alike. We have an ambitious road map
for change and have great confidence that in working with Castleton
that these changes will be achieved."
Enquiries: Castleton Technology Tel. +44 (0)845
plc 241 0220
Dean Dickinson, Chief
Executive Officer
Haywood Chapman, Chief
Financial Officer
finnCap Tel. +44 (0)20
Jonny Franklin-Adams 7220 0500
/ Simon Hicks
MXC Capital Markets Tel. +44(0)20
LLP 7965 1849
Marc Young / Charlotte
Stranner
Alma PR Tel. +44(0)
Josh Royston 7780 901979
About Castleton Technology plc
Castleton Technology plc is a leading supplier of complementary software and managed services
to the public and not-for-profit sectors. The acquisitions of Montal, Documotive, Opus, Keylogic,
Brixx, Impact Applications and Kypera bring together an exceptional suite of solutions, providing
the foundation for this platform. Castleton works in partnership with its customers and resellers
to help drive efficiencies whilst improving controls and customer service. www.castletonplc.com
The information communicated in this announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
CNTSSUFLWFWSESL
(END) Dow Jones Newswires
April 10, 2017 02:00 ET (06:00 GMT)
Castleton Technology (LSE:CTP)
Historical Stock Chart
From Apr 2024 to May 2024
Castleton Technology (LSE:CTP)
Historical Stock Chart
From May 2023 to May 2024