Castleton Technology PLC Contract Wins (9721B)

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)