Solium

Solium
Company typePrivate
TSX: SUM - Former Symbol
IndustryFinancial services, Software
Founded1999; 25 years ago (1999)
FateAcquired by Morgan Stanley
Headquarters
Calgary
,
Canada
Area served
Worldwide
Key people
Marcos Lopez (CEO)
ProductsShareworks
  • Equity Administration
  • Financial Reporting
  • Participant Experience
  • Forms Filing
  • Global Intelligence
  • Cap Table
  • Scenarios
  • Mobile App
  • 409A Valuations
RevenueIncrease US$108.3 million (2018)
Number of employees
781
Websitewww.shareworks.com

Solium Capital, now known as Shareworks by Morgan Stanley, is a subscription-software (SaaS) company headquartered in Calgary, Alberta, Canada.[1] 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[2] and has offices in Canada, the United States, the UK, Europe and Australia.[3][4] Morgan Stanley announced a definitive agreement to acquire Solium in February 2019[5] for approximately CAD$1.1 billion (US$900 million), a 40% premium over the recent trading price.[6]

History

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Solium was founded 1999 by two Calgary-based financial advisers, John Kenny and Mark Van Hees.[7] In 2001, the company made its initial public offering (IPO)[8] on the TSX Venture Exchange. Early clients included TransAlta, Encana Corp., and Shell Canada Ltd.[2] In 2004, Solium became profitable.

In 2010, Solium acquired Computershare's Transcentive business.[9] In this transaction, Solium acquired the Express Options software platform, which UBS white-labeled.

In 2011, Solium opened an office in London, UK.[2]

In 2012, Solium acquired the CapMx business from Silicon Valley Bank.[10]

In 2013, Barclays Corporate and Employer Solutions announced a partnership with Solium to white-label Shareworks.[11]

In 2014, Solium opened an office in Sydney, Australia.[2] Later that year, BHP Billiton became a client.[12]

In 2016, Morgan Stanley announced that it would use Shareworks to serve its U.S. clients.[1][13][14]

In 2017, UBS began to white-label Shareworks to run its Equity Plan Advisory Services.[1]

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]

References

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