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Brady

  • BY: Andrew Hore |
  • POSTED: 16/03/2010 |

Risk management software provider Brady is acquiring Viveo Switzerland from Temenos for CHF3.8m (£2.3m).

Viveo will expand the range of software Brady can offer to commodities firms. Viveo is particularly strong in soft commodities. It also boosts Brady’s presence in Europe.

Viveo made a small loss on revenues of CHF3.5m (£2.16m) in 2009. The deal will increase recurring revenues, which already account for more than one-third of the group revenues.

Brady had £6.1m in the bank at the end of February 2010 so it will still have plenty of cash left after the transaction.

At 66p a share, Brady is valued at £18.7m.

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