London-based Brady plc received shareholder approval to acquire VIz Risk Management, according to today’s announcement.
Brady said the deal would make the company the largest European-based provider of trading and risk solutions for the commodities markets. As a result of the merger, the enlarged company would also become the major provider of risk management and trading solutions to the European energy markets, principally electricity, gas, emission certificates and coal.
Brady placed a 14 million British Pound share offering in November, part of which was used to finance the acquisition and also to further increase Brady’s cash resources.
In a statement, Gavin Lavelle, Brady CEO, said, “We see this as a transformational deal for Brady and it is another important step towards becoming the definitive global partner of choice for trading, risk management and settlement solutions across all commodities and energy products.” This Brady’s third acquisition in eighteen months and it has established a successful track record of fast and efficient integration of acquired companies, according to Lavelle. “I am confident clients will quickly see tangible, long-term benefits from this latest acquisition, particularly as Viz’s Elviz ETRM is the leading solution for trading European electricity, gas, coal and emissions,” the CEO further commented. In the same release, Frank Carlsen, Viz CEO, also praised the combination of both Viz and Brady as being positive for both companies. “For many years we have set the market standard for European energy trading and risk management, making Elviz ETRM the most advanced solution for real-time trading, pricing, analysis and risk management currently available. Becoming a part of Brady’s greater geographical reach and infrastructure will enable us to take Elviz ETRM to the wider, global energy community.”
Viz was founded in 1992, which has a client base throughout Europe, including major energy producers and traders. The Elviz ETRM will now be Brady’s lead product to the energy sector and in time will be combined with Brady’s existing offerings as part of the company’s strategy to provide a single trading and risk management solution for the whole lifecycle of all commodities, including metals, softs and energy products, according to the company’s press statement.
Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio