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Brady plc (BRY.L), the leading provider of trading, risk management and settlement solutions to the energy, metals and soft commodities sectors, is pleased to announce it has extended Brady Energy’s product offering through the acquisition of syseca AG (“syseca”). syseca is a Swiss-based company providing logistics software for the electricity markets and adds up-to-date physical electricity trading capabilities to Brady. syseca has been operating since 1994 and its clients are based throughout Europe.
The acquisition has a compelling strategic, commercial and financial rationale as it broadens Brady Energy’s product offering to include up-to-date, physical electricity real-time balancing and scheduling capabilities, with connectivity to most major transmission system operators (TSO’s).
Brady and syseca have enjoyed a successful commercial partnership in recent years, working together with mutual customers to provide complementary solutions to meet their needs. Following the acquisition, Brady now expects to further strengthen its product offering with a highly qualified and experienced team. Brady’s expertise in energy trading and risk solutions, combined with syseca’s strength in physical energy trading solutions, creates an excellent platform to drive further revenue growth.
Ernst Killer, President of syseca AG, commented: “We have worked in partnership with Brady on several occasions to provide solutions for customers in the energy market and strongly believe that becoming part of a well-resourced, publicly-listed company will offer our business immense potential to deliver solutions to a wider marketplace, through Brady’s global infrastructure.” Continuing, he said, “Our business has recently seen some consolidation and is becoming much less fragmented. This is a great opportunity to create an integrated, real-time solution for physical energy trading, which provides complete straight-through-processing, from deal input through to logistics and scheduling.”
Commenting on the acquisition, Gavin Lavelle, CEO of Brady, said: “We have collaborated closely with syseca and developed a strong relationship with the team. It provides both product and people skills in the German-speaking markets and uses the latest technology which is highly complementary to our energy solutions. This acquisition further strengthens our product offering by adding to our existing financial and risk management capabilities, providing new growth opportunities.”
