Issuer Direct Acquires Interwest Transfer
Issuer Direct Acquires Interwest Transfer
This week, Issuer Direct Corporation (NYSE American: ISDR), an industry-leading communications and compliance company, announced the acquisition of Interwest Transfer Company, a privately held, Salt Lake City, Utah-based firm specializing in stock registrar and transfer agency services for the last 56 years.
Issuer Direct’s acquisition of Interwest is intended to bolster the Company’s transfer agent business. According to Issuer Direct, adding the transfer agency customer base of Interwest will allow Issuer Direct to significantly bolsters its platform potential by providing the Interwest customer base the opportunity to utilize a single-sourced, consolidated disclosure and communication offering for disseminating regulatory and other business information to shareholders and the markets.
Interwest customers will have the ability to immediately take advantage of Issuer Direct’s platform offerings designed specifically for mid and lower market cap corporate issuers. The acquisition makes Issuer Direct one of the top 10 stock transfer agencies in North America.
“We have known the team at Interwest for several years, and value their passion for having a customer first commitment to each and every customer they serve. We plan to retain certain key employees of ITC, and we look forward to having their talent be a part of the family here at Issuer Direct,” said Brian R. Balbirnie, Chief Executive Officer of Issuer Direct.
The purchase price consisted of $1.935 million in cash and 25,235 shares of common stock paid at closing and $960,000 to be paid equally in cash over three years.
Learn more HERE.