Date closed: 4/4/2017
Value: C$131 million
On April 4, 2017, Deluxe Corporation (Deluxe) (NYSE: DLX), through a wholly owned subsidiary, completed the acquisition of 100 percent of the stock of RDM Canada (TSX: RC) for approximately CS$131 million in cash, net of cash acquired. RDM will become part of the growing suite of treasury management solutions offered by Deluxe.
Deluxe, headquartered in Shoreview, Minnesota, is a growth engine for small businesses and financial institutions.
RDM, headquartered in Mississauga, Ontario, provides large financial institutions with Remote Deposit Capture (RDC) solutions.
BLG represented Financial Technology Partners LP, who provided a fairness opinion to the special committee of RMD Canada with a team led by Gordon Raman that included Rebecca Cowdery and Laura Costen.