UK: Tracsis plc has acquired the entire issued share capital of Ontrac Ltd and Ontrac Technology Ltd, which develop workflow and information sharing software for the rail and transport industries.
Ontrac has around 30 permanent staff, and generated revenue of £7·1m and an adjusted pre-tax profit of £2·4m in the year to January 31 2015. Tracsis will pay an initial £11·5m, and a total consideration of up to £19·5m depending on future performance.
‘We are delighted to have completed this acquisition which continues our trend of acquiring well run, profitable, niche businesses that are complementary to the broader goals of Tracsis and our customer base,’ said Tracsis CEO John McArthur. ‘Ontrac is a well-established company with an excellent track record of technology delivery within the rail sector.’