Australian-based Computershare Limited has moved to substantially increase its profile in employee share plan administration with the acquisition of Britain’s HBOS Employee Equity Solutions from Lloyds Banking Group.
Computershare announced the acquisition to the Australian Securities Exchange (ASX) today saying the transaction was valued at 40 million pounds and would be funded by cash and existing debt facilities with the objective of being earnings per share positive in the 2011 financial year.
Commenting on the acquisition, Computershare president and chief executive Stuart Crosby said it would result in Computershare becoming the market leader in employee plan administration in the United Kingdom.
