Equiniti Group plc (“Equiniti” or the “Group”) is pleased to announce that following regulatory approval and satisfactory completion of all outstanding conditions, the Group has today completed the acquisition of Wells Fargo’s Shareowner Services business (“WFSS”).
The Group will begin the integration process immediately, having undertaken extensive preparation since the initial transaction announcement in July 2017. As noted in the trading update announcement of 21 November 2017, the Group’s plans for the WFSS business, including the deployment of Equiniti’s proprietary Sirius technology into the US market over the coming months, have been received with enthusiasm and support from major WFSS clients and transferring staff.
Commenting on the completion of the acquisition of WFSS, Guy Wakeley, Chief Executive of the Group said:
“Today marks a significant step for Equiniti, transforming it into a multinational financial services and technology business with scale presence in the US, the world’s largest, most active and consolidated share registration market. We are delighted to welcome WFSS to the Group, and we are looking forward to working with our new colleagues, new customers and new partners in the US market.”
The Group expects to publish its full year results for the twelve months to 31 December 2017 on 7 March 2018.