Business
Information Services Corporation Completes Acquisition of 30% Stake in OneMove
REGINA, Sept. 2, 2015 /CNW/ - Information Services Corporation (TSX:ISV), ("ISC" or the "C...
About this update from Information Services Corp. Class A
[{"type":"text","content":"\n\nREGINA, Sept. 2, 2015 /CNW/ - Information Services Corporation (TSX:ISV), (\"ISC\" or the \"Company\") today completed its acquisition of 30 per cent of the issued and outstanding voting, common shares of OneMove Technologies Inc. (\"OneMove\") for CAD$3.3 million. ISC will use existing cash to finance the investment through a wholly owned subsidiary.  \n\nISC recognizes OneMove and its econveyance™ software as an industry-leading online, subscription-based solution that offers a secure and efficient means of managing real property transactions. It simplifies and expedites the process of buying and selling real property by connecting legal professionals, lenders and insurers throughout the conveyancing process. The econveyance™ solution is available in British Columbia, Alberta and, most recently, Ontario.\n\nOneMove has continued to experience revenue and earnings growth in 2015. Through this investment in OneMove, ISC expects to participate in a growing, complementary business, consistent with its growth strategy.  \n\nUnder the terms of the revised unanimous shareholders' agreement among the shareholders of OneMove, ISC will be entitled to proportional board representation and pre-emptive rights to maintain its 30 per cent interest, as well as participation in or approval rights for certain fundamental decisions respecting OneMove and its business.\n\nISC sought and obtained clearance for the transaction from the Commissioner of Competition.\n\nAbout ISC\n\nISC is an experienced provider of registry and information services for government, individuals and private sector business. As the exclusive provider of the land titles, surveys, personal property and corporate registries for Saskatchewan, the Company maintains and operates these registries, which are key supporters of economic activity in the province.\n\nCautionary Note regarding Forward-Looking Information\n\nThis news release contains forward-looking information within the meaning of applicable Canadian Securities legislation, including statements with respect to the expected future opportunities for growth of OneMove business. All statements other than statements of historical fact are forward-looking statements. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual re...