Leeds-based Tracsis said Bellvedi’s key product, ATTUne, is a timetable planning software package which is extensively used by train operators, infrastructure providers, franchise bidding teams and rail consultancies.
Tracsis and Bellvedi have partnered on several significant software projects - most notably on Tracsis’ recent major contract wins - with the ATTUne software forming a key part of the TRACS Enterprise offering.
Tracsis said the acquisition is strategically important and highly complementary to its software offering and future product road map.
John McArthur, the outgoing chief executive of Tracsis, said: “Tracsis has known the Bellvedi team for a number of years and has worked with them closely on a number of key projects. Bellvedi has a great product and complimentary customer base and their expertise in timetable planning and optimisation is second to none.”
As previously reported, Chris Barnes was appointed chief executive of Tracsis on Wednesday. Mr McArthur is stepping down from the board and will continue to work with Tracsis in a part-time capacity focusing on mergers and acquisitions.
Analyst Andrew Darley at FinnCap said: “Appropriately coinciding with the appointment of Chris Barnes as CEO, allowing John McArthur to focus on M&A, Tracsis has announced the acquisition of Bellvedi, developer of timetable optimisation software called ATTUne.
“Having been partners in several significant software projects, particularly the most recent major contract wins involving TRACS Enterprise, the acquisition is highly complementary.”
Springboard Corporate Finance and law firm Squire Patton Boggs advised on the sale of Bellvedi to Tracsis.