UK-headquartered Castleton Technology PLC said it acquired Castleton India, previously known as CarbonNV InfoLogic India Private Ltd, for £350,000.

The managed services provider said the consideration comprises of £154,678 of cash and 200,331 shares at a price of 2 pence each.

Castleton said the acquisition will enable it to secure the additional development capability and skills of the 21 employees, who have joined Castleton on a long-term basis.

The acquisition is expected to be completed upon admission of the new shares. Dean Dickinson, CEO, Castleton, said: "The acquisition of Castleton India follows a very successful working relationship between the UK and Indian teams over the past 11 months.

"I look forward to working closely with the combined onshore and offshore team to bring our product road map to market over the coming years."