a must-read article in the AFR during the week on BVA.
Iain Dunstan was quoted as saying BVA couldn't be better placed in the current environment even if it tried.
Yeah there has been nothing but deal flow announced over the last few months but stock got knocked back - nice to see it making a strong and fast comeback this last week.... the more sign-ups they get the more long-term lock in revenue they secure for the future. Its looking like shaping up as another impressive Australian success story in IT not unlike IBA (although the market does not seem to think too much of IBA at the moment they have achieved a great deal over the last five years/...)
Can you please post that article from the AFR. we dont get the afr over in Kiwiland.
Thanks
Have thrown my copy out sorry....but this is the start of it from the Commsec newstand.
Contract renewal pumps Bravura with confidence
Date6/2/2008
AuthorPaul Smith
SourceThe Australian Financial Review--- Page: 59
Bravura Solutions has signed a deal with The Bank of New York Mellon for itsRufus software, worth at least $A15m. The agreement extends the Australianwealth management software group's five-year contract with the bank to theend of 2013, and could potentially generate annual revenue of up to $A40m. Thecontract was initially negotiated after Bravura acquired Rufus from the bank in2006. Bravura group MD, Iain Dunstan, said the contract extension was anendorsement of its performance to date and significant as it continues to expandits European business. Shares in Bravura rose 9.3% to $A1.64 on 5 February 2008
If BVA stays around these levels for too much longer, you'd think the directors would seriously considering re-visiting the takeover proposal that they were rumoured to have recieved late last year from a UK institution that valued PEM at $2.10 to $2.30.
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