Solium Explained

Solium
Type:Private
Traded As: - Former Symbol
Industry:Financial services, Software
Fate:Acquired by Morgan Stanley
Hq Location City:Calgary
Hq Location Country:Canada
Area Served:Worldwide
Key People:Marcos Lopez (CEO)
Products:Shareworks
  • Equity Administration
  • Financial Reporting
  • Participant Experience
  • Forms Filing
  • Global Intelligence
  • Cap Table
  • Scenarios
  • Mobile App
  • 409A Valuations
Revenue: US$108.3 million
Revenue Year:2018
Num Employees:781

Solium Capital, now known as Shareworks by Morgan Stanley, is a subscription-software (SaaS) company headquartered in Calgary, Alberta, Canada. It is best known for Shareworks, software used by public and private companies to manage their employee stock options and/or cap tables. It also does 409A valuations (see Internal Revenue Code section 409A). The company has ~3,000 clients and has offices in Canada, the United States, the UK, Europe and Australia.[1] [2] Morgan Stanley announced a definitive agreement to acquire Solium in February 2019[3] for approximately CAD$1.1 billion (US$900 million), a 40% premium over the recent trading price.[4]

History

Solium was founded 1999 by two Calgary-based financial advisers, John Kenny and Mark Van Hees.[5] In 2001, the company made its initial public offering (IPO)[6] on the TSX Venture Exchange. Early clients included TransAlta, Encana Corp., and Shell Canada Ltd. In 2004, Solium became profitable.

In 2010, Solium acquired Computershare's Transcentive business.[7] In this transaction, Solium acquired the Express Options software platform, which UBS white-labeled.

In 2011, Solium opened an office in London, UK.[8]

In 2012, Solium acquired the CapMx business from Silicon Valley Bank.[9]

In 2013, Barclays Corporate and Employer Solutions announced a partnership with Solium to white-label Shareworks.[10]

In 2014, Solium opened an office in Sydney, Australia. Later that year, BHP Billiton became a client.[11]

In 2016, Morgan Stanley announced that it would use Shareworks to serve its U.S. clients.[12] [13] [14]

In 2017, UBS began to white-label Shareworks to run its Equity Plan Advisory Services.

In 2017, Solium acquired Capshare and let it continue to run as an independent entity.[15] [16] [17]

in 2018, Solium acquired Advanced-HR, a U.S. company that provides compensation data and compensation planning software for private and venture backed companies.[18]

In 2019, Solium was acquired by Morgan Stanley at a price of CAD$19.15 per Common Share. The total transaction was valued at approximately CAD$1.1 billion (US$900 million).[19] [20]

External links

Notes and References

  1. Web site: 2016 Solium Annual Report. Solium. October 18, 2017.
  2. News: Solium Capital is a buy, says Canaccord Genuity. 2017-05-30. Cantech Letter. 2018-02-02. en-US.
  3. The Canadian Press, "Morgan Stanley buying Calgary-based Solium Capital for $1.1 billion" (Can$), Calgary Herald, February 11, 2019. Retrieved 2019-02-11.
  4. Hoffman, Liz, "Morgan Stanley, in Biggest Deal Since Crisis, Courts Future Millionaires" , Wall Street Journal, February 11, 2019. Retrieved 2019-02-11.
  5. Web site: Solium Capital. April 18, 2013. The Calgary Herald. October 17, 2017.
  6. Web site: Initial Public Offering - Solium Capital Inc. - Prospectus . April 30, 2001. Morningstar.
  7. Web site: Solium Capital announces acquisition of Computershare business unit. Anderson. Darren. August 17, 2010. Techvibes. October 17, 2017.
  8. Web site: Acquisitions accelerate Calgary tech firm's global growth. Elias. Craig. February 15, 2013. The Globe and Mail. October 17, 2017.
  9. Web site: SVB Analytics, Inc., CapMx Business: Private Company Information - Bloomberg. www.bloomberg.com. 2017-10-18.
  10. Web site: Barclays C&ES launches global shares and reward services. Paterson. Jennifer. March 11, 2013. Employee Benefits. October 17, 2017.
  11. News: A Canadian small cap stock with global ambitions. 2018-01-12.
  12. News: Yedlin: Meet Calgary's best kept tech secret. 2017-08-15. Calgary Herald. 2018-01-12. en-US.
  13. News: Solium Capital gets "outperform" rating as National Bank Financial launches coverage. 2017-09-15. Cantech Letter. 2018-02-02. en-US.
  14. News: Solium Capital is showing its technological edge, says Canaccord Genuity. 2018-05-23. Cantech Letter. 2018-06-11. en-US.
  15. News: Cap table apps team up as Solium acquires Capshare. Constine. Josh. TechCrunch. 2017-10-16. en.
  16. Web site: Calgary's Solium Announces Acquisition of Capshare. Techvibes. en-US. 2017-10-24.
  17. News: Solium Capital gets price target raise at Laurentian. 2017-10-11. Cantech Letter. 2018-02-02. en-US.
  18. Web site: Solium Announces Acquisition of San Francisco-Based Technology Company, Advanced-HR Markets Insider. GmbH. finanzen net. markets.businessinsider.com. 2020-01-23.
  19. Web site: Morgan Stanley to Acquire Solium, Creating a Leading Provider of Stock Plan Administration and Workplace Wealth Solutions. Morgan Stanley. en. 2019-08-27.
  20. Web site: Solium Releases 2018 Fourth Quarter and Year-end Financial Results. Inc. Solium Capital. www.newswire.ca. en. 2020-01-23.

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