Tracsis boosts rail business with consultancy purchase
Friday, July 18, 2008
Tracsis, the software business that works in the transport sector, is steaming ahead with plans to fast track its rail projects operation by acquiring RWA Rail Ltd.
RWA is a rail sector consultancy specialising in operational and strategic planning. Tracsis said the deal would help it provide a wider range of projects to a more diverse client base in the rail sector.
As part of the move the company is set to raise £0.2 million in a share placing at 53.5p per share. The new cash will fund working capital and possibly further acquisitions.
RWA generated revenue of £1,019,000 in the year ended 31 March 2008 resulting in EBIT of £293,000. Robert Watson, the company’s founder and managing director, is joining the board of Tracsis as chief operating officer.
Elsewhere, Tracsis reported that given the visibility of revenue under contract, it was expecting revenues for the year to July 31 to be around £800,000 for its existing business.
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