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.
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