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Plenary Americas, an infrastructure investment firm principally owned by La Caisse, agreed to pay $51 per share in cash for Regina-based Information Services Corp., an IT firm that manages public data and records. The companies are hoping to close the deal in the third quarter. (The Logic)
Talking point: ISC’s sale marks a successful campaign by former Dye & Durham chief executive Matt Proud. Proud’s activist investment firm, Plantro, pushed ISC to consider selling itself if it would not overhaul its board. ISC has said its strategic review process was not a reaction to Plantro. A former Saskatchewan Crown corporation, ISC entered the private sector through a 2013 IPO, and has since expanded its database services, implementing its technology on national databases in Ireland as well as state databases in the U.S. In addition to its previous campaign against Dye & Durham, Plantro has also pushed for Ag Growth International to consider a sale.
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