LONDON, Jan. 12 /CNW/ - 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
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 transactions across
their global operations. http://www.bradyplc.com
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