Computershare Limited to purchase Servizio Titoli SpA from the London Stock Exchange Group

Computershare Limited has agreed to purchase Italy’s Servizio Titoli SpA from the London Stock Exchange Group PLC. The acquisition is expected to complete in mid May, subject to various formal conditions, including finalization of audited accounts for the year to 31 March 2011. The transaction values the Servizio Titoli business at €30 million plus an amount of up to €2.4 million for the net cash balance as at completion.

Stuart Crosby, Computershare’s CEO said the agreement to purchase Servizio Titoli follows through on Computershare’s commitment to build its Continental European business, as reflected in the recent separation of management of Continental Europe from the United Kingdom, Channel Islands, Ireland and Africa. Crosby reiterated that Computershare’s global clients expect the firm to be able to offer them services across the world, and this acquisition materially enhances its Italian offering.
 
Steffen Herfurth, Computershare’s Group Managing Director for Continental Europe, said the move marks a significant milestone as it enables Computershare extend its footprint in Continental Europe. As the leading provider in the Italian market, Servizio Titoli is a perfect fit for Computershare’s business and continues its strategy of offering premium services across major CE countries, said Herfurth.

Servizio Titoli is Italy’s leading provider of issuer services, including meetings and dividend register management, working on behalf of more than 50% of Italy’s listed companies. Servio’s support is targeted towards the management of shareholders, annual general meetings, corporate secretaries and investor relations.  Servizio Titoli has offices in Milan, Turin and Rome and has approximately 50 employees. It has revenues of approximately €9.3 million annually.

Computershare already owns Georgeson, a leading global proxy solicitation business and an established brand in the Italian marketplace. Georgeson is the world’s leading provider of stakeholder intelligence; global information agent; proxy solicitation and corporate governance advisory services.

As in other regions, the two businesses will work alongside each other, benefiting from mutual client relationships and the Computershare global network.

Computershare is a global market leader in transfer agency and share registration, employee equity plans, proxy solicitation and stakeholder communications. The firm also specializes in corporate trust services, tax voucher solutions, bankruptcy administration and a range of other diversified financial and governance services.

Computershare is represented in all major financial markets and has over 10,000 employees worldwide. Computershare is practiced at the integration of acquisitions, having successfully undertaken over 80 globally in the past 15 years.

6th April 2011

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