Brady Regulatory News (BRY)

21 Jun 2005 06:30

Acquisition of Tradesoft B.V. by Brady plc Brady plc ("Brady" or "the Group"), which supplies integrated softwaresolutions to the commodity markets, including the metal and mining industry,announces the acquisition of the entire issued share capital of Tradesoft B.V.("Tradesoft" or "The Company"). The purchase is due for completion on 30 June2005.Tradesoft, founded in 1997, is centred in Holland and has representatives inthe US and the UK. The Company provides software solutions primarily to largecommodity producers and traders with a focus on physical commodities, includingmetal concentrates and materials management. Its customers are based mainly inEurope and America.Brady intends to incorporate the Tradesoft offerings into the Brady productportfolio. This will provide enhanced support services to Tradesoft clients andan expanded scope of solutions to Trinity users.The acquisition brings a broader product base and new customers in the Group'score commodity markets, and adds recurring revenues from maintenance ofexisting products. The board does not expect the transaction to have a materialimpact on Group profits in 2005.As referred to in the AGM statement of 16 May 2005, Trinity sales will beweighted towards the second half. Whilst the Group is disappointed not to havemade a major Trinity sale in the first half, the Group's sales pipeline remainsits most extensive pipeline to date. Trinity Version 600 was released on timeto its development partner and is on plan for general release in the thirdquarter. The group's directors remain confident of converting this pipelineinto sales in the second half. Revenue from other sources remains strong, withmaintenance up 37%, professional services up 80% and development contracts up33% in the first five months relative to last year.Following completion of the transaction the company expects to have cashbalances in excess of ‚£4 million.For further information, please contact:Richard Kellett-Clarke 07703 210 790 Graham Simister, Chairman 020 7351 0425 ENDBRADY PLC