Petards moves for transportation software engineering firm
Summary
Petards, a developer of advanced security and surveillance systems, has acquired a specialist transportation software engineering business based in Leeds.RTS will operate as an independent company within the Petards Group from its offices at Holbeck Rail Depot in Leeds and all staff will be retained within the business as part of the acquisition.Petards directors believe that the acquisition will strengthen the groups software solutions offering and that it will provide an entry into the UK rail infrastructure market complementing its existing eyeTrain on-board train systems.Raschid Abdullah, Petards chairman, said: "We are delighted to welcome RTS and its staff to the Petards Group and look forward to working with them to further develop and grow its business."This acquisition marks a further step in the broadening of the groups portfolio of products, providing the opportunity to expand its earnings and enhance shareholder value.