Norway-based Viz, founded in 1992, has an established client base throughout Europe, with long-term clients, including major energy producers and traders. Vizâs market- leading Elviz ETRM will be Bradyâs lead product to the energy sector and provides trading and risk management solutions for electricity, gas, coal and emissions. Vizâs product range will be combined with Bradyâs existing offerings as part of the companyâs âsingle source â single viewâ strategy to provide comprehensive solution sets for specialist markets. This will ensure clients have access to a single trading and risk management solution for the whole lifecycle of all commodities, including metals, softs and energy products.
Gavin Lavelle, Brady CEO, said, âIt is Bradyâs aim to be the definitive global partner of choice for trading, risk management and settlement solutions across all commodities and energy products. Viz Risk Management will greatly strengthen our offerings in the energy markets in the same way that our recent acquisition of Viveo enabled us to broaden our support for softs and agricultural asset classes, in addition to our established expertise in base and precious metals.â He added: âThis will be of enormous benefit to both Viz and Brady clients as energy is an important input price into the industrial companies producing or fabricating commodities. We have a successful track record of fast and efficient integration of acquired companies and are confident that clients will quickly see tangible, long-term benefits from this latest acquisition.â
Frank Carlsen, Viz CEO commented, âElviz ETRM is seen as the market standard for European energy trading and risk management. Our close working relationships with the energy markets have resulted in Viz providing the most advanced solutions for real-time trading, pricing, analysis and risk management currently available. Viz becoming part of Brady makes excellent strategic and commercial sense, and also provides a major opportunity to take Elviz ETRM to the wider, global energy community. We believe Bradyâs complementary solutions, geographical coverage and strong balance sheet will help us serve our customers and accelerate our growth.â
The acquisition has a compelling strategic and financial rationale for Brady and is expected to be an excellent opportunity to facilitate further growth and extend the geographical reach of the company into Northern and Eastern Europe. It comes quickly after the successful acquisitions of Viveo, in March 2010, and Comsoft in 2009, both of which have significantly grown and are performing ahead of initial plans. Brady will now be able to offer its clients full cross-commodity coverage, with integrated solutions for the entire lifecycle of commodities and energy trading from capture, through processing, inventory, invoicing and ultimately reporting P&L on the trades.