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Brady plc (BRY.L), the leading global supplier of trading, risk management and settlement solutions to the metals and commodities sectors, has announced the acquisition of Commodities Software (UK) Limited, known as Comsoft, a privately held UK-based company. Comsoft will now become part of Brady plc.

In the highly focused and specialised world of commodities, Brady is the leader in metal trading solutions; Comsoft is a leading supplier of raw material solutions. The acquisition will position Brady as uniquely able to provide the most sophisticated trading and risk management solutions for refined and unrefined metals. Brady and Comsoft already share prestigious metal trading clients.

The offerings of the two companies are complementary and will provide a single solution for trading and risk management of raw materials, including contract capture, invoicing, QP schedule, mark-to-market, assaying, hedging, financing and credit risk. Given the extreme volatility of metal prices it is essential to have integrated solutions for trading and risk management. The solution will provide a platform for transparency and compliance, a pre-requisite in today’s environment.

Comsoft has an impressive client base, complete intellectual property rights and its principals have more than 25 years of knowledge and expertise in the raw materials business. The transaction is financed from Brady’s existing cash reserves. No headcount reductions or cost savings are planned as Brady intends to invest to accelerate growth.

Gavin Lavelle, CEO of Brady plc, commented: “This is a fantastic start to the year for Brady. The acquisition of Comsoft is a significant milestone in our strategy of being the definitive global provider and partner of choice for trading, risk management and settlement solutions to the metals and commodities industries. Our clients will have the most advanced offering for refined and unrefined metals. Comsoft and its clients will benefit from Brady’s global reach and worldwide support and development resources. The deal provides an opportunity to accelerate our future growth and we anticipate that the deal will enhance the earnings per share.” He went on to say: “Brady is cash positive and has an appetite for the right acquisitions at the right price.”

Says Ian Kingdon, Managing Director at Comsoft: “As the leader in this market sector we see Brady as a natural partner. The acquisition will benefit Comsoft and Brady clients, offering the marketplace an outstanding product set. We are very much looking forward to working with Brady to develop our products further and help grow the company.”

Comsoft was formed in 1994 by Ian Kingdon and Paula Flint with each owning 50% of the company. Comsoft’s headquarters are in the UK, with clients in the UK, USA, Switzerland and Turkey.

Brady clients include many of the world’s largest miners, refiners and producers tier one banks and a large number London Metal Exchange (LME) Category 1 and 2
clearing members.

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Editorial contact
John Norris
Moonlight Media
Tel: +44 (0) 20 7250 4770
Email: john@moonlightmedia.co.uk

Notes to Editors
About Brady plc
Brady plc (BRY.L) is a leading global provider of trading and risk management software for global commodity markets. On a single platform Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for refined and unrefined metals. Brady has more than 20 years of expertise in the commodity markets and more than 800 users worldwide, including some of the largest financial institutions and mining corporations that depend on Brady's software solutions to deliver vital business transactions across their global operations. For further information visit: www.bradyplc.com


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