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Cambridge software group in £18.3 million deals

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Brady plc, a Cambridge-based provider of trading and risk management software for global commodity markets, is acquiring a Norwegian firm Navita Systems AS and Swiss company syseca AG in deals worth £18.3 million aimed at taking consolidation forward in the sector. Grant Thornton advised Brady.

Navita Systems AS, which has been acquired for £17.1 million, is a leading provider of software and services to the global energy and commodity trading sector and the acquisition will extend Brady's presence in the energy market. syseca AG provides logistics software to electricity markets and has been acquired for £1.2 million.

Mark Clement, transaction advisory services director at Grant Thornton’s Cambridge office who advised on the deals, said: “Grant Thornton continues to support Brady's growth strategy by providing financial and tax due diligence services in connection with the acquisitions of Navita Systems and syseca.

“The group believes there is a strong opportunity to become a leading consolidator of energy, metals and commodity software companies and that the acquisition of Navita Systems will be a key step in developing its energy business and reaching overall critical mass and scale.

“syseca AG's strength in physical energy trading solutions, coupled with Brady's expertise in energy trading and risk, further enhances the group’s platform for growth.”

Grant Thornton has now worked with Brady on four deals. In 2010, Brady acquired Norwegian company Viz Risk Management Solutions for £10.97 million and Viveo Switzerland in a £2.74 million deal.

With an hq on the Cambridge Science Park, Brady has more than 25 years’ expertise in the commodity markets and over 150 customers worldwide, including leading European energy generators, traders and consumers; many of the world's largest miners, refiners and producers; banks, trading companies and a high proportion of London Metal Exchange membership categories.

Last Updated ( Friday, 02 March 2012 10:15 )