Tracsis continues its acquisition trail
TRACSIS, the transport sector software specialist, has continued its acquisition trail with the purchase of Safety Information Systems (SIS).
The Leeds-based group, which provides performance and planning optimisation software and consultancy services for the transport industries, confirmed today that it has acquired SIS for £465,000.
SIS operates predominantly within the UK rail sector and also provides software and services to clients with the marine and energy generation sectors where its product offerings are highly relevant.
It generated revenue of £327,259 during the year ended December 31 2008 resulting in operating profit of £188,933.
Tracsis said SIS has strong synergies with Tracsis and valuable growth potential, which will contribute to broadening the company’s customer base and expand its client offering.
John McArthur, chief executive of Tracsis, said: “The acquisition of SIS is the 3rd transaction we have made in the past 15 months and has all the positive attributes we look for in a company that is a profitable business model, good quality recurring revenue, a great product with high barriers to entry, supportive customers and solid management.”
In November, Tracsis said that its acquisition of RWA Rail – a leading consultancy serving both the UK and overseas rail markets – and rail passenger analysis specialist Peeping in July had broadened its sales pipeline.
The group reported pre-tax profits of £729,000 for the year ended July 31 compared to £393,000 the year before.
Turnover jumped to £2.3m from £805,000 with recurring revenue under contract in excess of £650,000.
