Tracsis completes Mistral Data deal, trading in line with expectations

Tracsis PLC on Monday said it has completed the acquisition of Mistral Data Ltd for £48 million, and reported that performance for the 2026 financial year was in line with market expectations.

The Leeds, England-based transport technology provider said the acquisition of software company Mistral Data, announced in July, was completed after regulatory and other approvals were received.

Tracsis is using existing cash resources and its revolving credit facility to meet the £48 million price tag. Pro forma net debt to earnings before interest, tax, depreciation and amortisation on completion is expected to be around 1.5 times.

In addition, Tracsis said results for the financial year ended July 31, to be published on November 19, are expected to be in line with market expectations.

In a trading statement, the firm said it expects to report revenue of £85.5 million, a 4.4% increase compared to £81.9 million a year prior, and adjusted Ebitda of £13.5 million, up 7.1% compared to £12.6 million in 2025.

Tracsis said the mean analyst consensus for adjusted Ebitda was £13.5 million, with a range between £13.2 million to GB13.9 million.

Tracsis said cash at the end of the year fell to £19.4 million, compared to £23.4 million a year ago. The group said these figures exclude the proceeds from the sale of its events unit, which Tracsis sold to Connection Capital LLP for £7.3 million earlier in the month.

"Looking ahead, Tracsis is better positioned than ever, with a portfolio aligned to attractive long-term growth markets, a higher proportion of recurring revenue and an increasing emphasis on scalable software products," Chief Executive Officer David Frost said. "Our priority is now to integrate Mistral Data successfully and capitalise on the significant opportunities ahead," he added.

Tracsis shares were up 7.3% at 343.22 pence on Monday morning in London.

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