Viveo Switzerland has been in business since 1986 and so brings significant experience in the commodities business as well as a substantial number of clients based in Switzerland, France, Italy and Russia. It has in-depth expertise in contract management, payment, invoicing, logistics, inventory management and treasury, which are all highly complementary to Bradyâs own strengths in risk management and trading.
Viveo Switzerland was part of the Viveo Group that was sold to Temenos in December 2009. Brady acquired Viveo Switzerland from Temenos, in order to take advantage of the opportunity to accelerate growth from a stronger combined commodities solution.
The acquisition and integration of Comsoft at the start of 2009 has been very successful and demonstrates Bradyâs ability to combine technology and solutions for the benefit of its clients. The integration of Viveo Switzerlandâs solution-set into the Brady offering will present clients with full cross-commodity coverage and will cover the complete lifecycle of commodities trading from capture, through processing, inventory, invoicing and ultimately reporting P&L on the trades.
Gavin Lavelle, CEO of Brady plc, commented, âThis acquisition will expand our coverage of diverse asset classes, increase our critical mass in mainland and Eastern Europe and we anticipate will lead to continued growth. The volume of trading in soft commodity futures contracts increased 16% last year with significant growth forecast for this year, for example in the soon-to-be-traded CME palm oil contracts. We welcome our enhanced ability to offer solutions with enhanced asset-class coverage in this growing market.â
Robert De Picciotto, CEO of Viveo Switzerland, said: âThis is a great deal for both parties and presents enormous potential for growth. This acquisition will allow Viveoâs clients to enter other market areas, not previously covered. Bradyâs worldwide presence will give existing and new clients access to the major markets in the US and Asia. Importantly, the deal provides continuity of support for our clients and offers my staff, many of whom have been with me for a considerable number of years, exciting new career opportunities within Brady they are keen to explore. The next few years will be an exciting time, and my team and I are looking forward to working with Brady.â