ACCESS Newswire acquired ACCESSWIRE (newswire assets of Baystreet.ca Media Corp.) for $1.84 million ($1.70 million cash plus $140,000 in common stock), a transaction completed in October 2014, structured as cash and stock. The deal was a Asset purchase.
ACCESSWIRE (newswire assets of Baystreet.ca Media Corp.) operates in Newswire / press-release distribution, is based in Vancouver, Canada. Issuer Direct acquired the assets of ACCESSWIRE, a Vancouver-based newswire specializing in press-release distribution to public and private companies across North America, from Baystreet.ca Media Corp. The deal gave Issuer Direct direct ownership of a newswire network and a new private-company vertical, and added several hundred clients.
Own a newswire network within its ecosystem to offer a single-sourced, consolidated disclosure and communications platform.
Immediately accretive; added several hundred clients and a private-company vertical. ACCESSWIRE (newswire platform)
This acquisition continues the strong momentum for Issuer Direct, broadening our client base by several hundred additional public and private companies and further expanding our already comprehensive offering,Brian Balbirnie, Chief Executive Officer, Issuer Direct
Advisory firms were not disclosed for this transaction.