Brady Technologies acquires Igloo Trading Solutions to accelerate growth in European energy markets
LONDON – 20 October 2021 – Brady Technologies (“Brady”), a leading provider of energy and commodities trading, risk and logistics management software, has acquired Igloo Trading Solutions (“Igloo”), a next generation, cloud-native, SaaS trading and risk management platform for European energy markets.
Igloo has a diverse client base including leading trading organisations, hedge funds, producers, and suppliers of power and gas which utilise its state-of-the-art platform. The acquisition will strengthen Brady’s position as a market leader in software solutions which enable energy traders to execute more profitable trading strategies through advanced data intelligence and connectivity to markets.
The combination of Brady’s SaaS PowerDesk solution for short-term power trading, with Igloo’s platform for trading and managing positions and risk across numerous asset classes, will provide users with a powerful single solution to profit from high levels of market volatility.
It is Brady’s second acquisition since CEO Bernard Delahaye joined the company in August this year. In September Brady acquired the energy credit risk software company CRisk.
Commenting on the acquisition announced today, Bernard Delahaye, CEO of Brady, said: “This is truly an exciting time for Brady in energy markets and we are delighted to welcome Igloo colleagues to the team. Market participants demand more agile, low capex, fast to market solutions in order to capitalise on new ways to profit from the green energy transition. The combination of PowerDesk and Igloo presents the best of innovation in energy trading software and a world class solution”. Chris Regan, Product Director for Brady’s energy portfolio, adds “The Igloo and PowerDesk teams share the same development ethos. We have put in the trader’s user experience at the heart of solution design.”
Tim Harrison, CEO of Igloo added: “Igloo and Brady share a passion for supporting traders to make better decisions through intelligent data and analytics. We are excited to join the Brady family and taking this offering to more independent power producers, asset developers, utilities, physical and financial traders, and hedge funds globally.”
Brady Technologies has been a Hanover Investors portfolio company since 2020. “Through strategic acquisitions of both Igloo and CRisk, Brady continues to enhance its ability to provide world-class energy trading solutions. This is a catalyst for Brady’s growth trajectory and this combination of expertise will build the next generation solution for algorithmic trading in energy markets,” said Matthew Peacock, Founder of Hanover Investors and Chairman of Brady.
About Brady Technologies
Brady Technologies is a leading provider of energy and commodities trading, risk, and logistics management software that empowers global market participants to trade confidently, profitably and sustainably today and in the future. Its customers include renowned multinationals, where Brady software sits at the core of their mission-critical global trading operations. Brady’s portfolio of applications covers the entire trading operation from capture of financial and physical trades, through risk management, handling of physical operations, back-office treasury and settlement, for power, oil, gas, coal, FX, emissions, refined and unrefined metals, and agricultural products. For more information, please visit www.bradytechnologies.com
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