TMX Buys Businesses from Equity Financial for $64M
TMX operates the Toronto Stock Exchange
TMX Group Ltd. will buy Equity Financial Holdings Inc.’s transfer agent and corporate trust services business for $64 million.
TMX operates the Toronto Stock Exchange. The transfer agent and corporate trust business helps public companies keep track of who owns its stocks and bonds.
The target business offers its services to about 700 clients that are mostly listed on the Toronto Stock Exchange or TSX Venture Exchange. It generated $16.9 million in revenue for 2012.
Toronto-based TMX, through its subsidiaries, operates cash and derivative markets and clearinghouses for the equities, fixed income and energy asset classes.
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