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Eleco snaps up project management software


WARE-based software group Eleco has bought construction software group Asta Development for £7.7 million.

The deal for Asta, which makes project management and resource software, is £3.2 million in cash and the remainder in new shares.

Eleco chief executive John Ketteley said: 'At a stroke it dramatically increases our construction software product portfolio and market footprint.'

Asta, which turned over £3.8 million last year and had net assets of £910,000, said it supplies software to most of the top 50 main contractors and top 10 house builders.