OREANDA-NEWS. October 06, 2017. Information Services Corporation (TSX:ISV) (“ISC” or the “Company”) today announced the sale of its 30 per cent stake in Dye & Durham Corporation (“D&D”) to the other shareholders of D&D for $25.0 million in cash.

Transaction Highlights

  • DELIVERS VALUE -  An $18.0 million gain on total capital deployed of $7.0 million.
  • PROVIDES CAPITAL – The addition of $25.0 million in cash further strengthens ISC’s balance sheet to support corporate objectives and priorities.

  
In September 2015, ISC announced its investment of $3.3 million in D&D (or OneMove Technologies Inc. as it was known at the time) for a 30 per cent stake. Over the course of a two-year period, ISC invested a further $3.7 million to support D&D’s growth activities and to maintain its 30 per cent shareholding. 

Jeff Stusek, President and CEO commented, “ISC has been very pleased with its investment in D&D. However, the time is right to divest and to focus on our other growth objectives and core business, deploying our capital resources at the appropriate time.” Stusek continued, “We would like to congratulate D&D on its growth during our time as a shareholder and wish Matthew Proud, CEO of D&D, and his team continued success.”

Origin Merchant Securities Inc. acted as exclusive financial advisor to ISC on this transaction.

About ISC
Headquartered in Canada, ISC is the leading provider of registry and information management services for public data and records. Throughout our history we have delivered value to our clients by providing solutions to manage, secure and administer information through our registry and services segments. ISC is focused on sustaining its core business while pursuing new growth opportunities. The Class A Shares of ISC trade on the Toronto Stock Exchange under the symbol ISV.