News blog
Tracsis
- BY: Andrew Hore |
- POSTED: 28/07/2009 |
Operational planning software supplier Tracsis is acquiring train-related research provider Peeping.
Peeping was formed in 1997 and provides passenger research for the rail industry. It analyses queues, platform utilisation and car park surveys. It generated an EBITDA of £153,000 on revenues of £432,000 in the year to April 2009.
The initial payment is up to £260,000 in cash and just under 173,000 shares at a price of 52.1p each. Net assets have to be at least £200,000 for the full cash payment to be made. Deferred consideration of up to £225,000 - 70% cash and 30% shares - will be payable based on the achievement of financial targets.
At 50.5p a share, Tracsis is valued at £9.58m. At the end of January 2009, Tracsis had cash of £2.51m.
Tracsis says it continues to grow its profits and it believes that Peeping is a good fit with its existing rail sector customer base. Tracsis will continue to grow organically and it says that Peeping will too.
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