Source: Computershare Limited
Computershare Limited (ASX:CPU), a leading financial services provider for the global securities industry, today announced that Computershare Inc. has acquired Administar Services Group LLC (Administar).
Administar provides administration services related to the settlement of securities and consumer class action litigation as well as Chapter 11 bankruptcy cases. Administar was previously wholly-owned by Administar Holdings LLC.
"This acquisition brings a great new business to Computershare in a significant and rapidly growing market," said Steve Rothbloom, President and CEO of Computershare US. "While this is a new opportunity for Computershare, our core competencies provide the perfect infrastructure to support and grow the litigation and bankruptcy administration business."
This deal falls in line with Computershare's strategy of acquiring businesses that can build on their capabilities, such as print services, call centers, shareholder identification services and payment processing. These capabilities, paired with Administar's strong legal-community relationships and their unique claims administration software, will help Computershare become a major player in this growing space.
"Computershare provides the perfect platform for Administar to take our bankruptcy and class action administration businesses to the next level," said Dave Leininger, CEO, Administar Services Group LLC.
The acquisition will also allow Administar's clients to better expand their business outside of the US, where class action litigation activity is on the rise.