Tracsis supplies work scheduling and labour optimisation software for the transport sector. Rail is the main market for the software. Tracsis joined Aim on 27 November 2007, when it raised £2m at 40p a share. On 5 August 2008, Tracsis completed the reverse takeover of RWA Rail, which provides consultancy services to the rail industry. Tracsis paid an initial £580,000 in cash plus 1.08m shares for RWA. There is deferred consideration of up to £145,000 in cash and 271,000 shares. At the time of the reversal Tracsis raised £200,000 - £194,000 net of expenses - from a placing at 53.5p a share.