Brady Extends Commodities Market Reach with Viveo Switzerland Acquisition
Brady, a supplier of trading and risk management solutions for metals and commodities, has acquired the commodities business of Viveo Switzerland. Viveo is a solutions provider for soft commodities, oil, gas and metals. Its technology, client base and domain knowledge is seen as a strong addition to Brady’s portfolio of trading and risk technology.
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.
Gavin Lavelle, chief executive officer (CEO) of Brady, said: “This 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.”