TORONTO, June 25, 2018 (GLOBE NEWSWIRE) -- Teranet Inc., Canada’s leader in the delivery of statutory registry services , announced today that its affiliated entity, CM Solutions Inc., has entered into a definitive agreement with D+H Corporation to acquire all of the issued and outstanding shares of D+H Collateral Management Corporation, a division of Finastra Holdings Inc. D+H Collateral Management Corporation is the market leader in Canadian lien registration and search, asset recovery services, and insolvency management.
“We are pleased to bring together D+H Collateral Management Corporation and Teranet’s expertise in statutory registries, technology solutions, and operations,” said Teranet CEO, Elgin Farewell. “This transaction creates synergies that will significantly extend our financial services business across Canada.”
D+H Collateral Management Corporation will join Teranet as a new complementary line of business. Jointly, they will deliver enhanced, integrated solutions to a broad set of financial services customers, leveraging investments in technology, rich insightful data, and market leading electronic registry and workflow platforms.
Teranet Inc. is 100 percent owned by OMERS Infrastructure , the infrastructure investment manager of OMERS, the defined benefit pension plan for Ontario’s municipal employees. Teranet has been providing reliable property data and insightful solutions to Canadian financial services customers including banks, credit unions, mortgage professionals and asset lenders since 1991. “It is all about bringing more to our customers,” said Teranet CEO, Elgin Farewell. “Our customers, both existing and new, will benefit as a result of our combined domain expertise, emphasis on technology, focus on customer needs, and Teranet’s long-term investment model.”
“Teranet and D+H Collateral Management Corporation are excellent examples of OMERS Infrastructure’s long-term investment strategy in action, with its focus on large-scale, high-quality infrastructure assets. We enthusiastically support Teranet’s ongoing growth strategy, both at home in Canada and internationally,” said Ralph Berg, OMERS Executive Vice President & Global Head of Infrastructure.
For more than 25 years, Teranet has connected government, businesses and consumers through the delivery and transformation of registry services, data solutions and e-conveyancing, while always maintaining the highest standards of reliability and integrity.
The transaction is expected to close in July 2018, subject to required regulatory approvals and customary closing conditions.
TD Securities Inc. acted as exclusive financial advisor to Teranet on this transaction. Teranet was advised on legal matters by Gowling WLG and on accounting, tax and integration matters by KPMG LLP. The financial details of the deal were not disclosed.
For further media information please contact:
Stephanie Bell Vice President, MediaProfile stephanie.bell@mediaprofile.com 416-342-1839
About Teranet Teranet is Canada’s leader in the delivery and transformation of statutory registry services with extensive expertise in land and commercial registries. We also market insightful property and data solutions, as well as practice management automation to thousands of customers in the real estate, financial services, government, utilities, and legal markets. Founded in 1991, Teranet operates the Electronic Registration System for the Province of Ontario, and The Property Registry for the Province of Manitoba. Our intention is to extend our registry service offerings to other jurisdictions. We are proud to be recognized as one of Greater Toronto’s Top 100 Employers in 2017. Teranet Inc. is 100 percent owned by OMERS Infrastructure , the infrastructure investment manager of OMERS, the defined benefit pension plan for Ontario’s municipal employees. OMERS is one of Canada’s largest pension funds, with net assets of more than C$95 billion.
About Finastra Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. Formed in 2017 by the combination of Misys and D+H, we provide the broadest portfolio of financial services software in the world today—spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve customers effectively, regardless of their size or geographic location—from global financial institutions, to community banks and credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 48 of the world’s top 50 banks use Finastra technology.
Please visit www.finastra.com .
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION This news release contains forward-looking statements within the meaning of securities laws, including management’s expectations and certain assumptions with respect our registry and commercial solutions services and products, and, in particular, the expected demand for the collateral management services of D+H Collateral Management Corporation, the ability to further grow the D+H Collateral Management Corporation’s business and Teranet’s financial services business. Forward-looking statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “believe”, “estimate”, “plan”, “could”, “should”, “would”, “outlook”, “forecast”, “anticipate”, “foresee”, “continue” or the negative of these terms or variations of them or similar terminology. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable at the date that such statements are made. A variety of factors, many of which are beyond the control of Teranet Inc. and/or D+H Collateral Management Corporation may cause actual results to differ materially from the expectations expressed in the forward-looking statements. These factors include, but are not limited to, those factors set out in the Confidential Offering Memorandum of Teranet Holdings LP (the “Issuer”) dated November 3, 2015. None of the Issuer, Teranet Inc. or D+H Collateral Management Corporation intend, or assume any obligation, to update any forward-looking statement except as may be required by applicable law.
For more information about Teranet, please visit our website at www.Teranet.ca .
