MRI Software has entered into an agreement to acquire Castleton Technology Plc, a specialist software and services provider to the social housing sector.

Castleton’s cloud-based technology is used by social housing providers in the UK, Republic of Ireland and Australia to enhance every aspect of customer service and business management, from building repairs to document management and payment collection.

MRI expects that, upon close, the acquisition will extend its residential market offering and accelerate the development of Castleton’s cloud-based technologies to serve the needs of social housing providers.

Patrick Ghilani, Chief Executive Officer of MRI Software said: “The acquisition of Castleton is a significant development for our business, delivering us scale in the UK real estate market and social housing sector in particular – providing a platform to further accelerate our growth globally. 

“A combined MRI and Castleton will be extremely well equipped to address the varying needs and evolving business models of the UK and Australian social housing sectors, with a comprehensive and flexible product portfolio. We are excited to work with the management team and employees of Castleton, to build upon their strong position in the social housing sector, utilising MRI’s complementary experience, capabilities, network and resources.”

The acquisition has been unanimously approved by the boards of MRI and Castleton and is pending shareholder approval.

At the end of last month MRI software announced its acquisition of Orchard Information Systems, a specialist provider of software solutions for the UK social housing sector.