Rail scheduling specialist Tracsis (TRCS) has moved to broaden the services it can offer its customers with the acquisition of fellow Aim-traded transport surveying business Sky High for £3.3m.
The deal, worth 15.25p a Sky High share, is to be funded from the company's cash reserves, which stood at £8.5m at its half-year results. Sky High was profitable at its last results and the acquisition should be immediately earnings enhancing. On top of Tracsis' strong position in rail scheduling and asset management, Sky High adds traffic surveys and other services as well as a foothold in Australia, which Tracsis could use as a starting point for trying to sell its rail products into that market.
Tracsis recently issued strong figures for the six months to January showing a 29 per cent rise in revenues to £4.7m and pre-tax profits up 50 per cent at £1.7m.
