CALGARY, Oct. 8, 2012 /CNW/ - Solium Capital Inc. ("Solium") (TSX: SUM), the leading global provider of cloud-enabled software and services for equity administration, financial reporting and compliance, announced today that it will acquire OptionEase Inc. ("OptionEase"), the leading provider of applications for fair-market-value accounting and compliance in the United States.
"Along with the acquisition and successful integration of California-based CapMx earlier this year, the acquisition of OptionEase solidifies Solium's leadership position in equity administration management for private market and emerging public-market companies," said Mike Broadfoot, CEO and Managing Director of Solium. "We now serve more than 2,800 clients in total, with 1,000 of those companies coming from the private market."
OptionEase offers software-as-a-service (SaaS) equity management to the governance, risk and compliance (GRC) marketplace. These solutions are complementary to Solium's market-leading Shareworks™ platform, the only web-based software that combines automated recordkeeping, trade execution and reporting of all equity-based compensation plans on a single, integrated platform.
"We are pleased to join forces with Solium Capital to provide our clients with a full spectrum of world-leading equity management solutions, for everything from early-stage capitalization table management to global stock plan administration," said OptionEase CEO Kim Kovacs. "The synchronicity between our technologies and intellectual capital will allow Solium to meet the equity administration, valuation and compliance needs of any private or public company in North America or abroad."
The transaction is expected to close in November 2012. The completion of the transaction is subject to customary closing conditions.
About Solium Capital Inc.
Solium (TSX: SUM) provides cloud-enabled services for global equity administration, financial reporting and compliance. From our operation centers in the United States, Canada, the UK and Australia, our innovative SaaS technology powers share plan administration and equity transactions for more than 2,800 clients with employees in 80 countries. Follow us @Solium and visit us online at solium.com.
About OptionEase Inc.
OptionEase is the leader in SaaS-delivered regulatory applications in the highly complex governance, risk and compliance (GRC) marketplace. The company's first product was designed specifically for audit compliance and has since grown into a full range of end-to-end equity management tools. The company is headquartered in Mission Viejo, California.
Certain statements included or incorporated by reference in this press release constitute forward-looking statements or forward-looking information under applicable securities legislation. Forward-looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", or similar words suggesting future outcomes or statements regarding an outlook. The forward-looking statements or information in this press release include expectations on the timing and the completion of various events. Such forward-looking statements or information are based on a number of assumptions which may prove to be incorrect. Although Solium believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements or information because Solium can give no assurance that such expectations will prove to be correct. The forward-looking statements and information are based on Solium's current expectations, estimates and projections, and are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from those anticipated. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
SOURCE: Solium Capital Inc.
For further information:
CEO and Managing Director
Aaron Kabucis, CFA
TMX | Equicom
416.815.0700 x 230