Solium
{{Short description|Software company in Canada}}
{{Infobox company
| name = Solium
| logo = Solium.svg
| logo_size = 250px
| type = Private
| traded_as = {{TSX was|SUM}} - Former Symbol
| industry = Financial services, Software
| fate = Acquired by Morgan Stanley
| founded = {{start date and age|1999}}
| hq_location_city = Calgary
| hq_location_country = Canada
| area_served = Worldwide
| key_people = Marcos Lopez (CEO)
| products = Shareworks
- Equity Administration
- Financial Reporting
- Participant Experience
- Forms Filing
- Global Intelligence
- Cap Table
- Scenarios
- Mobile App
- 409A Valuations
| revenue = {{increase}} US$108.3 million
| revenue_year = 2018
| num_employees = 781
| num_employees_year =
| website = {{URL|https://www.shareworks.com/ }}
}}
Solium Capital, now known as Shareworks by Morgan Stanley, is a subscription-software (SaaS) company headquartered in Calgary, Alberta, Canada. It is best known for Shareworks, software used by public and private companies to manage their employee stock options and/or cap tables. It also does 409A valuations (see Internal Revenue Code section 409A). The company has ~3,000 clients and has offices in Canada, the United States, the UK, Europe and Australia.{{Cite web|url=https://solium.com/ar2016/public/pdf/2016_Annual_Financial_Report.pdf|title=2016 Solium Annual Report|website=Solium|access-date=October 18, 2017}}{{Cite news|url=https://www.cantechletter.com/2017/05/solium-capital-buy-says-canaccord-genuity/|title=Solium Capital is a buy, says Canaccord Genuity|date=2017-05-30|work=Cantech Letter|access-date=2018-02-02|language=en-US}} Morgan Stanley announced a definitive agreement to acquire Solium in February 2019The Canadian Press, [https://calgaryherald.com/pmn/business-pmn/morgan-stanley-buying-calgary-based-solium-capital-for-1-1-billion/ "Morgan Stanley buying Calgary-based Solium Capital for $1.1 billion" (Can$)], Calgary Herald, February 11, 2019. Retrieved 2019-02-11. for approximately CAD$1.1 billion (US$900 million), a 40% premium over the recent trading price.Hoffman, Liz, [https://www.wsj.com/articles/morgan-stanley-in-its-biggest-deal-since-crisis-courts-future-millionaires-11549885394 "Morgan Stanley, in Biggest Deal Since Crisis, Courts Future Millionaires" {{subscription required}}], Wall Street Journal, February 11, 2019. Retrieved 2019-02-11.
History
Solium was founded 1999 by two Calgary-based financial advisers, John Kenny and Mark Van Hees.{{Cite web|url=https://calgaryherald.com/business/Solium+Capital/8244180/story.html|title=Solium Capital|date=April 18, 2013|website=The Calgary Herald|access-date=October 17, 2017}} In 2001, the company made its initial public offering (IPO){{Cite web|url=http://globaldocuments.morningstar.com/documentlibrary/document/cbb4b4153c9531ad.msdoc/original|title=Initial Public Offering - Solium Capital Inc. - Prospectus |date=April 30, 2001|website=Morningstar}} on the TSX Venture Exchange. Early clients included TransAlta, Encana Corp., and Shell Canada Ltd. In 2004, Solium became profitable.
In 2010, Solium acquired Computershare's Transcentive business.{{Cite web|url=https://techvibes.com/2010/08/17/solium-capital-announces-acquisition-of-computershare-business-unit|title=Solium Capital announces acquisition of Computershare business unit|last=Anderson|first=Darren|date=August 17, 2010|website=Techvibes|access-date=October 17, 2017}} In this transaction, Solium acquired the Express Options software platform, which UBS white-labeled.
In 2011, Solium opened an office in London, UK.{{Cite web|url=https://www.theglobeandmail.com/report-on-business/small-business/going-global/acquisitions-accelerate-calgary-tech-firms-global-growth/article8687160/?arc404=true|title=Acquisitions accelerate Calgary tech firm's global growth|last=Elias|first=Craig|date=February 15, 2013|website=The Globe and Mail|access-date=October 17, 2017}}
In 2012, Solium acquired the CapMx business from Silicon Valley Bank.{{Cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=206529632|title=SVB Analytics, Inc., CapMx Business: Private Company Information - Bloomberg|website=www.bloomberg.com|access-date=2017-10-18}}
In 2013, Barclays Corporate and Employer Solutions announced a partnership with Solium to white-label Shareworks.{{Cite web|url=https://www.employeebenefits.co.uk/issues/march-2013-online/barclays-ces-launches-global-shares-and-reward-services/|title=Barclays C&ES launches global shares and reward services|last=Paterson|first=Jennifer|date=March 11, 2013|website=Employee Benefits|access-date=October 17, 2017}}
In 2014, Solium opened an office in Sydney, Australia. Later that year, BHP Billiton became a client.{{Cite news|url=https://www.theglobeandmail.com/globe-investor/investment-ideas/solium-capital-expands-its-global-network-with-shareworks-software/article22032053/|title=A Canadian small cap stock with global ambitions|access-date=2018-01-12}}
In 2016, Morgan Stanley announced that it would use Shareworks to serve its U.S. clients.{{Cite news|url=https://calgaryherald.com/business/local-business/yedlin-meet-calgarys-best-kept-tech-secret|title=Yedlin: Meet Calgary's best kept tech secret|date=2017-08-15|work=Calgary Herald|access-date=2018-01-12|language=en-US}}{{Cite news|url=https://www.cantechletter.com/2017/09/solium-capital-gets-outperform-rating-national-bank-financial-launches-coverage/|title=Solium Capital gets "outperform" rating as National Bank Financial launches coverage|date=2017-09-15|work=Cantech Letter|access-date=2018-02-02|language=en-US}}{{Cite news|url=https://www.cantechletter.com/2018/05/solium-capital-is-showing-its-technological-edge-says-canaccord-genuity/|title=Solium Capital is showing its technological edge, says Canaccord Genuity|date=2018-05-23|work=Cantech Letter|access-date=2018-06-11|language=en-US}}
In 2017, UBS began to white-label Shareworks to run its Equity Plan Advisory Services.
In 2017, Solium acquired Capshare and let it continue to run as an independent entity.{{Cite news|url=https://techcrunch.com/2017/10/10/cap-table-apps-team-up-as-solium-acquires-capshare/|title=Cap table apps team up as Solium acquires Capshare|last=Constine|first=Josh|work=TechCrunch|access-date=2017-10-16|language=en}}{{Cite web|url=https://techvibes.com/2017/10/20/calgarys-solium-announces-acquisition-of-capshare|title=Calgary's Solium Announces Acquisition of Capshare|website=Techvibes|language=en-US|access-date=2017-10-24}}{{Cite news|url=https://www.cantechletter.com/2017/10/solium-capital-gets-price-target-raise-at-laurentian/|title=Solium Capital gets price target raise at Laurentian|date=2017-10-11|work=Cantech Letter|access-date=2018-02-02|language=en-US}}
in 2018, Solium acquired Advanced-HR, a U.S. company that provides compensation data and compensation planning software for private and venture backed companies.{{Cite web|url=https://markets.businessinsider.com/news/stocks/solium-announces-acquisition-of-san-francisco-based-technology-company-advanced-hr-1016627020|title=Solium Announces Acquisition of San Francisco-Based Technology Company, Advanced-HR {{!}} Markets Insider|last=GmbH|first=finanzen net|website=markets.businessinsider.com|access-date=2020-01-23}}
In 2019, Solium was acquired by Morgan Stanley at a price of CAD$19.15 per Common Share. The total transaction was valued at approximately CAD$1.1 billion (US$900 million).{{Cite web|url=https://www.morganstanley.com/press-releases/morgan-stanley-to-acquire-solium--creating-a-leading-provider-of|title=Morgan Stanley to Acquire Solium, Creating a Leading Provider of Stock Plan Administration and Workplace Wealth Solutions|website=Morgan Stanley|language=en|access-date=2019-08-27}}{{Cite web|url=https://www.newswire.ca/news-releases/solium-releases-2018-fourth-quarter-and-year-end-financial-results-804427909.html|title=Solium Releases 2018 Fourth Quarter and Year-end Financial Results|last=Inc|first=Solium Capital|website=www.newswire.ca|language=en|access-date=2020-01-23}}
References
{{Reflist}}
External links
- [https://solium.com/ Official website]
Category:Companies based in Calgary
Category:Software companies of Canada