Tracsis (AIM:TRCS) – another nice acquisition and another big upgrade
The leading provider of software and technology led products and services for the traffic & transportation industry has announced yet another cracking acquisition bringing out yet more upgrades – this business keeps on delivering!
The Group has acquired Ontrac Limited and Ontrac Technology Limited a software development and IT solutions company that work with a range of clients in the transport, construction, and local government sectors. Based in Gateshead and London, Ontrac works extensively within UK rail where their products have helped digitise process intensive workflows and aided with collaborative working through access to shared information. In the year ended 31 January 2015, Ontrac generated revenue of £7.1m, and adjusted (for dividends and other Director emoluments, although not sure how dividends impact pre-tax profit!) profit before tax of £2.4m. The business is…