18th Mar 2015 09:12
LONDON (Alliance News) - MXC Capital Ltd on Wednesday said investee company 365 Agile Ltd has acquired wireless communications company Ciseco, which trades as Wireless Things, while Castleton Technology PLC said it expects to get a boost from the deal.
MXC said the deal will combine the two-way communication protocol for smart devices developed by Wireless Things with 365 Agile's secure tablet and smartphone software to create an offering for the burgeoning Internet of Things market. MXC owns a 20% stake in 365 Agile.
MXC did not provide any financial details on the acquisition.
The deal was also noted in a separate statement by Castleton Technology, the software and managed services provider whose recent acquisition Documotive Ltd acts as the exclusive reseller of 365 Agile's software.
Castleton said the deal would allow it to market a complete Internet of Things product to the social housing market in the UK, which it claims would be a unique proposition within the sector.
"The ability to offer our customers an increasingly broad product set demonstrates our commitment to providing the social housing sector with a one-stop solution for its software and technology requirements. IOT capability brings an exciting range of potential applications to our market place that we look forward to showcasing," said Castleton Chief Executive Ian Smith.
MXC shares were down 2.7% to 2.75 pence on Wednesday morning, while Castleton shares were down 0.6% to 2.51p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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