Deluxe closes $131M acquisition of RDM

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By Ted Liu

Deluxe Corporation (NYSE: DLX), through Wausau Financial Systems, Inc., has closed the acquisition of RDM Corporation (TSX: RC) at $5.45 per share for cash consideration of CDN $131 million.

FTP Securities LLC acted financial advisor to RDM. Gowling WLG (Canada) LLP and McMillan LLP acted as legal counsel to RDM and Wausau respectively.

Founded in 1987 in Waterloo, Ontario based RDM Corporation is a provider of remote deposit capture (RDC) software, hardware and digital imaging solutions for financial institutions and corporate clients. RDM conducts business primarily in the United States. RDM customers include four of the top 10 banks in the US market and 31 percent of the top 100 Fortune 500 companies.

“RDM further enhances our robust suite of best-in-class treasury management solutions, strengthening our value proposition and improving our market position,” said John Filby, President of Deluxe Financial Services. “Deluxe acquired WAUSAU Financial Systems in 2014, FISC in 2015 and Data Support Systems in 2016. We continue to build on our commitment to bring a rich set of treasury management solutions together under one roof.”