18 October 2017
Register now

Computershare to acquire EquiServe

21 October 2004  |  4089 views  |  0 New York skyscrapers

Australian share registry outfit Computershare is to acquire EquiServe, one of the largest providers of transfer agent and employee stock plan services in the US, from DST Systems, Inc.

Upon closing, DST will receive $216 million of cash plus 29.6 million shares of Computershare common stock with an approximate market value of $91 million.

The acquisition is planned for completion at the start of 2005.

Chris Morris, CEO and president of Computershare describes the deal as the "most momentous acquisition in Computershare's history, both in size and strategic importance".

It follows other recent Computershare US acquisitions, including Georgeson Shareholder Communications, Alamo Direct and Transcentive.

Says Morris: "Growing our business in the US has always been a critical part of our global strategy and this deal positions us as a leader in the US in both share registry and employee plans."

In total, EquiServe has around 1300 clients and provides services to almost 19 million shareholders. The employee plan administration business supports in excess of 1 million active employees. The primary processing facility is in Boston, Massachusetts, with additional major facilities in Jersey City and Edison, New Jersey, and Chicago, Illinois.

Tom McDonnell, president and CEO of DST Systems, Inc. comments: "Our decision to sell EquiServe to Computershare anticipated the future needs of our clients, whose requests have expanded for ancillary and integrated services for employee plans, employee and shareowner communications and proxy services."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Computershare raises stake in Russian registrar to 45%

Computershare raises stake in Russian registrar to 45%

24 June 2004  |  3202 views  |  0 comments
Philippine Dealing & Exchange signs for Computershare's X-stream

Philippine Dealing & Exchange signs for Computershare's X-stream

03 December 2003  |  4146 views  |  0 comments
Computershare buys Georgeson Shareholder Communications

Computershare buys Georgeson Shareholder Communications

15 October 2003  |  3650 views  |  0 comments
CNQ opens for trading with Computershare's Horizon

CNQ opens for trading with Computershare's Horizon

04 August 2003  |  2828 views  |  0 comments
Computershare acquires Fifth Third share registry business

Computershare acquires Fifth Third share registry business

30 June 2003  |  4023 views  |  0 comments
Computershare converts EFA client list

Computershare converts EFA client list

17 June 2003  |  2955 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.com visit www.capgemini.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15255 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8455 views comments | 16 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7953 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7421 views comments | 13 tweets | 8 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6578 views comments | 8 tweets | 16 linkedin

Featured job

A minimum of £200K (not a limiting factor)
London

Find your next job