ACCESS Newswire acquired SEC Compliance Services, Inc. for $275,000 in cash plus 70,000 restricted shares of Issuer Direct common stock, a transaction completed in January 2012, structured as cash and stock. The deal was a Asset purchase.
SEC Compliance Services, Inc. operates in Disclosure management / compliance, is based in San Leandro, California, USA. Issuer Direct acquired certain assets of San Leandro, California-based SEC Compliance Services, Inc., a full-service XBRL and EDGARization provider that specialized in building reseller channels to the corporate market. The deal expanded Issuer Direct's corporate-issuer customer base to over 500 and added a West Coast sales office.
Expand the reseller channel, broaden channel relationships and improve gross margins per issuer.
West Coast sales office
We are impressed with the accomplishments of Michael Colon and his team at SEC Compliance Services during the past year and look forward to working with them as part of the Issuer Direct family,Brian R. Balbirnie, Chief Executive Officer, Issuer Direct Corporation
Advisory firms were not disclosed for this transaction.