RDM Corporation receives court approval in connection with proposed plan of arrangement with Deluxe Corporation
WATERLOO, ON, March 30, 2017 – RDM Corporation (TSX:RC) (“RDM”) today announced that Ontario Superior Court of Justice (Commercial List) has issued a final order approving the proposed transaction pursuant to which a subsidiary of Deluxe Corporation (“Deluxe”) agreed to acquire all of the issued and outstanding common shares of RDM for cash consideration of $131 million (CDN) by way of a plan of arrangement under section 192 of the Canada Business Corporations Act (the “Arrangement”).
Completion of the Arrangement remains conditional certain other closing conditions customary for transactions of this nature. Subject to the satisfaction or waiver of all other closing conditions, it is anticipated that the Arrangement will be completed on or about April 4, 2017.
About RDM Corporation
RDM Corporation provides large financial institutions with Remote Deposit Capture (RDC) solutions designed to help their clients simplify the way they do business. RDM processes over $600 billion in payments annually and helps financial institutions increase revenue, expand market share and improve customer service for over 80,000 end users.
Four of the top ten financial institutions in the United States use RDM’s payment processing solutions. RDM serves 31 percent of the top 100 Fortune 500 companies including brokerage firms, big-box retailers, healthcare and insurance providers, and government entities. Working with clients for over 25 years, RDM provides both software and hardware solutions including web-based and mobile RDC, and manufactures a wide range of digital imaging scanners. For more information, visit www.rdmcorp.com.
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