New Acquisition Fuels Growth Strategy at Brady
LONDON, Jan 12 /PRNewswire-AsiaNet/ --
Brady plc (BRY.L), the leading global supplier of trading, risk
management and settlement solutions to the metals and commodities sectors,
has acquired Commodities Software (UK) Limited (Comsoft), a privately held
company.
In the highly focused and specialised world of commodities Brady is the
leader in metal trading solutions; Comsoft is a leading supplier of raw
material solutions. The acquisition will position Brady as the unique
provider of the most sophisticated trading and risk management solutions for
refined and unrefined metals. Brady and Comsoft already share prestigious
clients.
The extreme volatility of metal prices requires integrated solutions for
trading and risk management. The offerings of the two companies are
complementary and will provide a single solution for raw materials including
contract capture, invoicing, QP schedule, mark-to-market, assaying, hedging,
financing and credit risk. Brady will provide a transparent and compliant
platform, a pre-requisite in today's environment.
Comsoft, formed in 1994, has an impressive client base through the UK,
Eire, USA, Switzerland and Turkey; its principals have more than 25 years'
expertise in the raw materials business and it has complete intellectual
property rights. No headcount reductions or cost savings are planned as Brady
intends to invest to accelerate growth.
Gavin Lavelle, CEO of Brady plc, commented: "This is a fantastic start to
the year for Brady. The acquisition is a significant milestone in our
strategy of being the definitive global provider of risk management and
settlement solutions to the metals and commodities industries. Our clients
will have the most advanced offering for refined and unrefined metals.
Comsoft and its clients will benefit from Brady's global reach and worldwide
support and development resources. The deal provides an opportunity to
accelerate our growth and we anticipate enhanced earnings per share. Brady is
cash positive and has an appetite for the right acquisitions at the right
price."
Says Ian Kingdon, Managing Director at Comsoft: "As the leader in this
market we see Brady as a natural partner. The acquisition will benefit
Comsoft and Brady clients, offering the marketplace an outstanding product
set. We are looking forward to working with Brady to develop our products and
grow the company."
About Brady plc
Brady plc is a leading global provider of trading and risk management
software for global commodity markets. A single platform combines complete,
fully integrated solutions supporting the entire commodity trading cycle,
from capture of financial and physical trading, through risk management,
physical operations, back office financials and treasury settlement, for
refined and unrefined metals. Brady has over 20 years' expertise in the
commodity markets and more than 800 users worldwide. Some of the largest
financial institutions and mining corporations and many London Metal Exchange
(LME) clearing members depend on Brady's software solutions to deliver vital
SOURCE: Brady PLC
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