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LONDON (Alliance News) - Resource optimization software and consultancy services Tracsis PLC Monday said it has acquired rail management software systems business Datasys Ltd in a deal worth GBP4.5 million.
The fee consists of a cash payment of GBP4.2 million and the issue of 126,775 Tracsis shares at a price of 295.8 pence each. Tracsis shares were quoted up 3.1% at 301.00 pence Monday.
Manchester-based Datasys has a client base which includes National Express Group PLC and Stagecoach Group PLC.
The principle activity of Datasys is software development, sales and licensing, with revenues predominantly derived from products that assist train operators capture, report and analyse the root causes of delays and other performance-critical information.
Tracsis said the vast majority of Datasys revenue comes from long-term recurring software leases.
For the year ended May 31, Datasys generated pretax profit of GBP298,000 and revenue of GBP2.3 million. The business is currently debt free and has cash balances of around GBP1.3 million, Tracsis said.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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