Deluxe Corporation Signs Definitive Agreement to Acquire RDM Corporation of Canada

Deluxe Corporation (DLX, NYSE) announced today that, through a wholly owned subsidiary, it has entered into a definitive agreement to acquire 100 percent of the stock of RDM Corporation (RC, TSX) of Canada for approximately $70 million US in cash, net of estimated cash to be acquired. The closing of the transaction is subject to customary conditions in Canada, including court approval, regulatory approval and the approval of RDM’s shareholders. The purchase price would be financed by using cash on hand and Deluxe’s existing credit facility. On closing, RDM will become part of the growing suite of Treasury Management Solutions offered by Deluxe.

RDM Corporation is a provider of remote deposit capture software and digital imaging solutions for financial institutions and corporate clients. Founded in 1987 in Waterloo, Ontario, RDM is publicly traded on the Toronto Stock Exchange and primarily does business in the United States.

RDM’s Board of Directors has unanimously approved of the acquisition and will recommend to RDM’s shareholders that they vote in favor of the acquisition. Pursuant to the agreement, directors, officers, and several other investors, collectively holding approximately 14 percent of RDM’s common shares, have already agreed to support the transaction and each has entered into a support agreement to vote their common shares in favor of the transaction. Closing of the transaction is expected to occur by the end of March 2017.
more at:

Back To Top
×Close search