Press release from CNW Group
Solium Acquires 10b5-1 Business of Computershare
Thursday, April 18, 2013
Solium Acquires 10b5-1 Business of Computershare08:00 EDT Thursday, April 18, 2013
CALGARY, April 18, 2013 /CNW/ - Solium Capital Inc. ("Solium") (TSX: SUM), the leading global provider of software as a service for equity administration, financial reporting and compliance, today announced that it will acquire the RSSOne product from Computershare Inc. ("Computershare"), which consists of a suite of services for Rule 10b5-1 and Rule 144 management, and the technology used to provide such services.
"With this acquisition, Solium gains a significant amount of technology and intellectual capital in the Rule 10b5-1 and Rule 144 management area, and in the venture capital processing space," said Mike Broadfoot, Chief Executive Officer and a Managing Director of Solium. "We also gain the opportunity to serve clients who leverage this technology as part of their executive service offerings, further expanding our relationships with the brokerage community and the solutions we are able to provide to them."
The RSSOne suite of services automates the administration of Rule 10b5-1 plans and the management of Rule 144 processing (insider trading compliance). This tool also provides an automated process for the distribution of capital to investors.
RSSOne provides a strong functional complement to Solium's Shareworks™ platform, which further integrates and automates the services that are provided to Solium's clients and partners, while significantly reducing the inherit risks that come from manual processing.
The transaction is expected to close April 30, 2013. The completion of the transaction is subject to customary closing conditions.
Solium provides software as a service for global equity administration, financial reporting and compliance. From our operation centers in the United States, Canada, the United Kingdom and Australia, our innovative SaaS technology powers share plan administration and equity transactions for more than 3,000 corporate clients with employee participants in over 140 countries. Follow us @Solium and visit us at solium.com.
SOURCE: Solium Capital Inc.
For further information:
Aaron Kabucis, CFA
TMX | Equicom
416.815.0700 x 230