RTS Solutions snapped up by Gateshead security developer

Security and surveillance systems developer, Petards has acquired the entire issued share capital of RTS Solutions (Holdings) Limited as well as RTS Solutions (UK).

RTS is a specialist transportation software engineering company which delivers web-based, real-time safety critical applications, whose main customers are currently Network Rail and its Tier 1 contractors.

It supplies end-to-end integrated solutions that support the UK rail network infrastructure by maximising effectiveness for operational, engineering and maintenance programmes.

RTS’s unaudited accounts for the year ended March 31, 2017 show that it generated revenues of £778k and reported a profit before tax of £262k. Over 50 per cent of these revenues related to recurring software licences, maintenance and support contracts.

Commenting on the acquisition, 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 group’s portfolio of products, providing the opportunity to expand its earnings and enhance shareholder value.”

RTS will operate as an independent company within the (Gateshead-based) Petards Group from its offices at Holbeck Rail Depot in Leeds. All staff will be retained within the business as part of the acquisition.

The directors believe that the acquisition will strengthen the group’s software solutions offering and that it will provide the group with an entry into the UK rail infrastructure market.

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