CPU to acquire Canadian group

Group will buy Olympia Corporate and Shareholder Services assets for up to $C43m.

Computershare (CPU) will acquire Canada's Olympia Corporate and Shareholder Services assets for a maximum price of $C43 million ($A44.237 million).

In a statement to the Australian Securities Exchange, Computershare said the purchase would allow it to provide transfer agency, corporate trust and employee share plan services in the Canadian market.

The group said up to $C7.5 million of the purchase price is contingent on revenue retention measured at the first year anniversary of transaction close.

The transaction is said to be immediately management earnings per share (EPS) accretive and is expected to close in December 2013.

Computershare said it expects to achieve synergies consistent with those achieved with previous transactions of a similar nature.

Chief executive officer Stuart Crosby said the group was pleased to extend its services in the Canadian market.

"Given our expertise in integrating businesses like this, OCSS’s clients can be sure that they will experience a seamless transition and continuing high levels of service going forward”.

Related Articles