ISC receives takeover bid for 15% of voting shares

Published 02/04/2025, 18:26
ISC receives takeover bid for 15% of voting shares

REGINA - Information Services Corporation (TSX:ISC), a Canadian provider of registry and information management services with a market capitalization of $352 million, acknowledged today that it is considering a tender offer from Plantro Ltd. to acquire a 15% stake in the company’s Class A Limited Voting Shares. The Board of ISC was approached by Plantro Ltd. on March 31, 2025, regarding the offer and is currently evaluating its merits. According to InvestingPro analysis, the stock appears undervalued at its current price of $19.04.

The company, which specializes in the management, security, and administration of public data and records across its Registry Operations, Services, and Technology Solutions segments, emphasized its commitment to its strategic plan. With a strong revenue growth of 19.5% in the last twelve months and an impressive gross profit margin of 76%, ISC aims to double its size by 2028 in terms of revenue and adjusted EBITDA, using 2023 figures as a baseline, with a focus on maximizing shareholder value. The company maintains a healthy 3.6% dividend yield and has received a "GREAT" overall financial health score from InvestingPro.

ISC’s Class A Shares are publicly traded on the Toronto Stock Exchange, and the company has a history of delivering value to clients through its service offerings. The potential acquisition by Plantro Ltd. represents a new development for the company, which has maintained a focus on both sustaining its core business and exploring new growth opportunities. Analysts maintain a positive outlook, with price targets ranging from $19.56 to $25.50.

The Board’s assessment of the tender offer is ongoing, and further details will be provided in due course. This announcement is based on a press release statement from Information Services Corporation. The company’s next earnings report is scheduled for April 30, 2025.

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