Oxford Technology jumps on acquisition, dividend news

1st Jun 2015 10:11

Oxford Technology 4 Venture Capital Trust (VCT) jumped more than 20% on Monday morning on the news one of its partially-owned subsidiaries was acquired by Castleton Technologies after the close on Friday.The trust also cheered with the announcement also revealed that it expects to announce a dividend "soon" after unveiling its year-end number at the end of June.The £5m purchase was made as a mixture of shares and cash, of which Oxford Technologies has received £1.585mOT4 VCT first invested in Impact Applications, which develops software to support local authorities, in 2005. The trust's total investment works out at £486,000.The trust said there would "significant" opportunities for cross-selling of the two companies' services.

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