UK software developer back on acquisition trail

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The British software provider Brady has dropped a major hint that it could be looking at acquisitions in the near future.

Following its recent takeover of Comsoft, the trading technology group revealed that pre-tax profits were up 63 per cent to £1 million (AUD$2.1 million).

Brady suggested that it would take advantage of the UK's recession by buying assets, which could possibly be aided through an Ansarada virtual data room.

By utilising such technology, advisors could potentially perform due diligence swiftly in a secure, online climate.

Gavin Lavelle, chief executive of the company, said: "We anticipate the continuing turbulence in the credit markets and recessionary climate should favour Brady's acquisition strategy."

He added that "substantial growth" in global metal trading and its recent acquisition had positioned Brady as "a leader in this market".

Also in the UK this week, the marine services firm Hamworthy has completed a deal to acquire Dutch ballast water treatment firm Greenship.