Invigia will strengthen the wide range of solutions that Equiniti already has to help organisations deal with regulation and change.
The transaction is subject to a Scheme of Arrangement becoming effective with Invigia shareholder approval and subsequent sanction of the Court. It is expected that the scheme will be effective from 15 Oct 2014. Invigia has received irrevocable undertakings from shareholders to vote in favour of the Scheme amounting to 85.94% of Invigia’s issued ordinary share capital.
Paul Clark, CEO, Invigia commented:
Invigia is a leading technology group with a diverse product/market sector operational structure, focussing on compliance and insight solutions. It has a terrific Customer community that spans the mid-market to enterprise scale and includes equally high profile organisations from the public sector. Becoming part of the Equiniti Group will bring significant support and momentum to Invigia’s growth ambitions and potential, both in terms of extending our target market penetration and in broadening and enriching our propositions. I see this is as a great development for Invigia’s Customers and its dedicated staff and management teams and look forward to the journey ahead.
Guy Wakeley, Chief Executive of Equiniti, said:
Acquisition is an important part of Equiniti’s story. As well as enabling us to broaden our offering to our clients by bringing new capability and expertise into our business it is also a proven driver of product development and organic growth, helping us consolidate our position as leader in our key markets. Invigia has been incredibly successful in helping businesses respond to increased regulation using smart technology – something which is at the heart of everything we do at Equiniti. It fits with our existing resourcing and technology capabilities, allowing us to provide a robust end-to-end remediation and customer service propositions. Invigia fits our criteria for acquisition – they are innovative, have a fantastic customer base aligned to our own and will take us into new market territory. We are delighted to welcome them on board.