TORONTO Feb 13 TMX Group will acquire
Equity Financial Holdings Inc's transfer agent and
corporate trust services business to broaden its portfolio of
services, the Toronto Stock Exchange operator said on Wednesday.
The company said it would pay roughly $64 million for the
business, which primarily helps public companies keep track of
the owners of their stocks and bonds.
TMX Chief Executive Officer Tom Kloet said his company is
"uniquely positioned" to build on Equity Financial's success, as
this deal would allow it to build on its relationships with
listed entities and the capital markets advisory community.
TMX, which also operates the TSX Venture Exchange for
small-capitalization stocks, the Montreal Exchange for
derivatives, and other markets, already owns businesses that
offer its clients a range of services, such as investor
relations and market analytics.
Equity Financial said it had decided to sell the business so
that it can focus on its rapidly growing retail mortgage lending
and deposit-taking operations.