The announcement that Brady Technologies had divested its commodities software business to STG this morning was no surprise here. There had been a pervasive rumour for many months that Brady was trying to sell its commodities business and focus in on electric power and credit. I even told the Brady management team this at E-World and could tell from their guarded smiles that this was probably in the works. It is an interesting move however for Brady is known for its historically dominant position in metals. On the surface, it is akin to selling the crown jewels. However, Brady has struggled in recent years to find its identity and with what strategy to pursue culminating in Hanover’s investment in the business. It was clear that under Hanover’s ownership, Brady was setting a different tack. Its’ acquisitions of Igloo and cRisk and the investment in a new product (Powerdesk) targeting distributed power in the UK, Nordics and broader Europe, suggested that it saw its place within the context of the energy transition in Europe. This refocus and strategy seems to have paid off as Brady seems to be making a resurgence and has signed new customers in that space. It has… continue reading
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