Deluxe Corp. acquires RDM Corp.

///Deluxe Corp. acquires RDM Corp.

Deluxe Corp. acquires RDM Corp.

By | 2018-02-20T16:09:51+00:00 March 23rd, 2017|M&A News|

February 13th, 2017. Deluxe Corp. (NYSE: DLX)  agreed to pay approximately US$72 million for Waterloo-based RDM Corp. (TSX: RC), a Canadian provider of online banking software and digital marketing solutions for electronic payment processing.  Founded in 1987, RDM completed its IPO in September 2000.  It’s been a long haul for RDM shareholders who saw their share value fall from the IPO price of $4.50 to $0.59 a year later, struggle back to $4.40 in July 2007 only to fall again to $0.73 in July 2011.   Since that time the Company’s shares have increased in value to a closing price of $4.80 per share on February 10, 2017.  At a price of $5.45 per share (20% premium to the 90-day volume weighted trading price.) I suspect the fatigued investors jumped at the chance to sell and move on.

Source: Newswire

Transaction Details:

Date of Announcement2/13/2017
HeadlineDeluxe Corp acquires RDM Corp.
SectorSoftware
Company AcquiredRDM Corp
Company LocationWaterloo, Ontario
Private/PublicPublic
Transaction Amount (reported)$70M
Founded1987
Employees51-100
Amount InvestedN/A
Key Investors
AcquirerDeluxe Corp
Acquirer LocationSaint Paul, Minnesota
Private/PublicPublic
Founded1915
Employees10,000+
Capital Raised to dateN/A
Key Investors
Comment
Press ReleaseBusiness Wire
Sourcecrunchbase
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