Plenary Americas Closes ISC Acquisition at CAD$51 per Share
Information Services Corporation is now privately held after Plenary Americas completed its $1.2B takeover of the Saskatchewan-based firm.
ISC is officially off the TSX. Information Services Corporation confirmed Monday that Plenary Americas LP has completed its acquisition of the Regina-based data and registry services company through a statutory plan of arrangement under Saskatchewan's Business Corporations Act — and shareholders are cashing out at CAD$51.00 per Class A Limited Voting Share.
The deal pegs ISC's implied enterprise value at approximately $1.2 billion, making it a meaningful exit for public shareholders who held the stock. If you owned shares, that flat cash consideration is what you're getting — no premium negotiation left on the table, no contingencies. Done.
Read more Broadcom Lands Expanded Apple Chip Deal, AVGO Shares Gain →
There's one notable carve-out: certain senior ISC executives didn't take the full cash payout. Instead, they signed equity rollover agreements that let them retain a stake in the newly private company. That's a classic move when insiders believe the long-term story is stronger than the buyout price suggests — worth noting if you track management conviction signals.
Plenary Americas, the buyer, is the North American arm of Plenary Group, a global infrastructure investment and asset management firm. Taking ISC private fits squarely in the playbook of buying stable, government-linked service businesses with predictable cash flows and running them outside the scrutiny of quarterly earnings cycles.
For TSX traders, ISC is no longer a tradeable name. The delisting follows completion of the arrangement, so any lingering positions need to be addressed. Continue reading at GlobalNewswire.
