Energy and commodities systems specialist Brady is to acquire Navita Systems, a Norwegian software and services company operating in the same markets.

The acquisition gives Brady a larger footprint in the areas of physical power and gas, as well as data management, scheduling and nominations, which will enhance its current product offering to the energy markets.

Navita was formed out of the world's first power exchange, Nord Pool, in 2003.  

"The completion of this acquisition will represent a significant step for Brady in our strategy to accelerate growth in our energy business and builds on the success to date of our Viz Risk Management acquisition in December 2010," said Gavin Lavelle, chief executive of Brady. "The extended solution set which the combined company will bring to the market offers best of breed solutions, enabling customers to benefit from a one-stop shop for both their physical and derivatives trading and risk management solutions."