|
|
|
Transcentive Sold to Australian Firm
Computershare acquires Shelton tech firm
|
Business New Haven
3/1/2004
By: BNH
|
SHELTON - Transcentive Inc., a provider of technology and services for stock-plan management and financial reporting, has been acquired by Computershare Limited (ASX: CPU), an Australian financial services and technology company.
Computershare Ltd. bought the private Shelton-based company, which employs about 140 people, for $24 million net cash. Computershare assumed an undisclosed amount of cash on hand from Transcentive as part of the deal, Transcentive officials said.
"Our vision has been to offer flexible yet comprehensive global equity compensation plan services tailored to the unique needs of each customer," explained Les Trachtman, Transcentive's president and CEO.
"Given Computershare's reach and presence in markets around the world, this propels us further toward our vision, and opens up a huge new global market for our services."
Computershare says the company expects that "the acquisition will ultimately involve some integration of administration, sales and marketing functions." But the deal's impact on employment levels in Shelton was not known, Transcentive officials said.
"This purchase is highly complementary to the Computershare group globally, our technology suite, and our employee share plan management business," said Computershare's chief executive officer, Chris Morris.
"As a global service provider with expertise in employee incentive compensation-plan management, Transcentive fits well into Computershare's integrated service offering and global vision. Along with their mutually beneficial third-party relationships, we are poised to cross-sell and up-sell technologies and services to existing Computershare and Transcentive clients, both in the U.S. and internationally," he added.
In addition to partnerships with brokerage firms, the 25-year-old Transcentive has clients in the legal, tax and consulting industries.
|
Go FirstGo PreviousGo
NextGo LastGo
to Index
|
|
