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]
 | |
| Company type | Private |
|---|---|
| TSX: SUM - Former Symbol | |
| Industry | Financial services, Software |
| Founded | 1999 |
| Fate | Acquired by Morgan Stanley |
| Headquarters | , |
Area served | Worldwide |
Key people | Marcos Lopez (CEO) |
| Products | Shareworks
|
| Revenue |  US$108.3 million (2018) |
Number of employees | 781 |
| Website | www |
History
editSolium 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
edit- ^ a b c "Yedlin: Meet Calgary's best kept tech secret". Calgary Herald. 2017-08-15. Retrieved 2018-01-12.
- ^ 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.
- ^ "2016 Solium Annual Report" (PDF). Solium. Retrieved October 18, 2017.
- ^ "Solium Capital is a buy, says Canaccord Genuity". Cantech Letter. 2017-05-30. Retrieved 2018-02-02.
- ^ The Canadian Press, "Morgan Stanley buying Calgary-based Solium Capital for $1.1 billion" (Can$), Calgary Herald, February 11, 2019. Retrieved 2019-02-11.
- ^ Hoffman, Liz, "Morgan Stanley, in Biggest Deal Since Crisis, Courts Future Millionaires" (subscription required), Wall Street Journal, February 11, 2019. Retrieved 2019-02-11.
- ^ "Solium Capital". The Calgary Herald. April 18, 2013. Retrieved October 17, 2017.
- ^ "Initial Public Offering - Solium Capital Inc. - Prospectus". Morningstar. April 30, 2001.
- ^ Anderson, Darren (August 17, 2010). "Solium Capital announces acquisition of Computershare business unit". Techvibes. Retrieved October 17, 2017.
- ^ "SVB Analytics, Inc., CapMx Business: Private Company Information - Bloomberg". www.bloomberg.com. Retrieved 2017-10-18.
- ^ Paterson, Jennifer (March 11, 2013). "Barclays C&ES launches global shares and reward services". Employee Benefits. Retrieved October 17, 2017.
- ^ "A Canadian small cap stock with global ambitions". Retrieved 2018-01-12.
- ^ "Solium Capital gets "outperform" rating as National Bank Financial launches coverage". Cantech Letter. 2017-09-15. Retrieved 2018-02-02.
- ^ "Solium Capital is showing its technological edge, says Canaccord Genuity". Cantech Letter. 2018-05-23. Retrieved 2018-06-11.
- ^ Constine, Josh. "Cap table apps team up as Solium acquires Capshare". TechCrunch. Retrieved 2017-10-16.
- ^ "Calgary's Solium Announces Acquisition of Capshare". Techvibes. Retrieved 2017-10-24.
- ^ "Solium Capital gets price target raise at Laurentian". Cantech Letter. 2017-10-11. Retrieved 2018-02-02.
- ^ GmbH, finanzen net. "Solium Announces Acquisition of San Francisco-Based Technology Company, Advanced-HR | Markets Insider". markets.businessinsider.com. Retrieved 2020-01-23.
- ^ "Morgan Stanley to Acquire Solium, Creating a Leading Provider of Stock Plan Administration and Workplace Wealth Solutions". Morgan Stanley. Retrieved 2019-08-27.
- ^ Inc, Solium Capital. "Solium Releases 2018 Fourth Quarter and Year-end Financial Results". www.newswire.ca. Retrieved 2020-01-23.
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