Mergers and Acquistions News
Categories: Software
March 17th 2010, 16:37PM
Cambridge-based trading and risk management solutions provider Brady has acquired the commodities business of Viveo Switzerland for £2.3 million.
Viveo Switzerland, which provides contract management, payment, invoicing, inventory management and other software solutions to the soft commodities, oil, gas and metals industry, was acquired by Brady from Temenos.
Integrating Viveo Switzerland's technology into Brady's offering, which includes Comsoft, is expected to help the Cambridge firm to enhance its asset class coverage and solidify its foothold in Europe.
Following the acquisition, the firm's clients will be provided with full cross-commodity coverage covering the complete life cycle of trading from capture to invoicing.
"This acquisition will expand our coverage of diverse asset classes, increase our critical mass in mainland and Eastern Europe and we anticipate will lead to continued growth," commented Gavin Lavell, chief executive officer of Brady.
Earlier this month, Brady announced another successful trading year, with a 33 per cent growth in sales and post-tax profit up by 34 per cent to £1.1 million.
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