Brady plc (BRY.L), the leading global provider of trading, risk management and settlement solutions to the energy, commodities and recycling sectors, announced today the acquisition of energycredit from Temenos.
energycredit provides specialised domain expertise in credit risk to the energy and commodity markets with offices in the UK, US and India, serving energy customers representing some of the world’s largest utilities, producers and trading firms.
“I’m thrilled to announce the acquisition of energycredit; it aligns perfectly to our growth strategy of acquiring complementary functionality to enhance our offering, enabling customers to have a single provider for their complete energy and commodity trading software requirements,” said Gavin Lavelle, CEO of Brady plc. “energycredit has a proven track record of success in credit risk management, having received Energy Risk’s award for credit risk solution of the year for 8 of the past 10 years. energycredit brings to Brady a highly skilled team that understands the nuances of this increasingly crucial element of commodity risk management. By combining Brady’s knowledge and expertise in the commodity risk management space with energycredit’s platform and expertise and relationships in the credit space, we will extend the functionality into the wider commodity asset classes and provide customers with a complete risk management suite of solutions.”
The acquisition enhances Brady as a global risk management solution provider. Together, the companies will collaborate to create a comprehensive solution for the market. A further advantage is an offshore development house. Customers will benefit from leveraging product synergies and additional resources, coupled with domain experts located close to the customers, enabling world-class development and testing at a highly cost effective level.
Fauwad Hurzuk, Head of Product at energycredit embraces the acquisition: “The entire team at energycredit recognises the benefits of working within the Brady organisation, whose focus is on the energy and commodity markets and we are looking forward to the opportunities that the combined Brady/energycredit offering will add to opportunities with existing customers on both sides, as well as a complete solution offering for the wider marketplace.” “By joining Brady our development teams are looking forward to extending the breadth of our solutions into wider asset classes and Brady will quickly see the benefits of an enlarged development team, resulting in the combined success of both organisations and most importantly customer satisfaction.”