29 November, 2010 7:30
Brady set to become the largest European commodities software provider
29 November 2010, London: Brady plc (BRY.L), the leading supplier of trading and risk management solutions for metals and commodities, announced today their intended acquisition of Viz Risk Management ("Viz"), a major provider of risk management and trading solutions to the energy markets, principally electricity, gas, emission certificates and coal. This acquisition is expected to make Brady the largest European provider of specialist integrated trading and risk management solutions to the global metals, commodity and energy markets. The deal is anticipated to complete in December this year. Brady also announces a highly successful share placing of £15 million with both existing and new investors, which will be used to finance the acquisition and also further increase Brady's cash resources. The Company looks forward to welcoming the new shareholders in what it sees as a transformational deal.
29 November, 2010 7:00
Acquisition of Viz Risk Management Services AS
The Board of Brady today announces that it has conditionally agreed to acquire Viz Risk Management Services AS ("Viz"), a privately-owned company based in Bergen, Norway which is a leading provider of trading and risk management systems for the energy markets, primarily electricity, gas, coal and emission certificates, for an aggregate consideration of Kr 92,500,000 (approximately £9.6 million) (the "Acquisition") in cash.