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April 18, 2000

AEA Technology acquires Fleet Software Limited

COMPANY PRESS RELEASE : AEA Technology's Rail business has completed the purchase of Fleet Software Ltd, a fast-growing software company specialising in products that help train and bus operators improve the management and control of their fleets, for £1.5 million.

By CBR Staff Writer

Fleet Software was founded in 1992 by John Rands, the previous majority owner and manager, who will be joining AEA Technology Rail along with 22 staff members based in Barnsley and Banbury.

In their drive to improve performance, Train Operating Companies and Train Leasing Companies are increasingly seeking software analysis tools that are able to assimilate data that makes it possible to manage their rolling stock more productively and efficiently. There is a strong fit between the software analysis packages sold by Fleet Software and AEA Technology’s portfolio of train monitoring products. Several customers have already been looking to exploit this compatibility.

John Rands said: Fleet Software has increased its turnover by more than 1,000% in the last five years. This year we saw growth of 100%. But the time had come when we needed to link up with a larger company to access wider markets. The fit with AEA Technology is ideal, with lots of synergy and very few overlaps.

Cliff Perry, Managing Director of AEA Technology Rail, said: Train companies are constantly seeking to improve their productivity and the efficient management of their assets. Bringing together Fleet Software’s products with our own will enable us to meet their needs in this area. We anticipate significant growth in our optimised maintenance business as a result of this acquisition, both in the UK and internationally and for both rolling stock and fixed asset markets.

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