Solium

Solium Capital, now known as Shareworks by Morgan Stanley, is a subscription-software (SaaS) company headquartered in Calgary, Alberta, Canada.[1] 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[2] and has offices in Canada, the United States, the UK, Europe and Australia.[3][4] Morgan Stanley announced a definitive agreement to acquire Solium in February 2019[5] for approximately CAD$1.1 billion (US$900 million), a 40% premium over the recent trading price.[6]

Solium
TypePrivate
TSX: SUM - Former Symbol
IndustryFinancial services, Software
Founded1999 (1999)
FateAcquired by Morgan Stanley
Headquarters
Calgary
,
Canada
Area served
Worldwide
Key people
Marcos Lopez (CEO)
ProductsShareworks
  • Equity Administration
  • Financial Reporting
  • Participant Experience
  • Forms Filing
  • Global Intelligence
  • Cap Table
  • Scenarios
  • Mobile App
  • 409A Valuations
RevenueIncrease US$108.3 million (2018)
Number of employees
781
Websitewww.shareworks.com

History

Solium was founded 1999 by two Calgary-based financial advisers, John Kenny and Mark Van Hees.[7] In 2001, the company made its initial public offering (IPO)[8] on the TSX Venture Exchange. Early clients included TransAlta, Encana Corp., and Shell Canada Ltd.[2] In 2004, Solium became profitable.

In 2010, Solium acquired Computershare's Transcentive business.[9] In this transaction, Solium acquired the Express Options software platform, which UBS white-labeled.

In 2011, Solium opened an office in London, UK.[2]

In 2012, Solium acquired the CapMx business from Silicon Valley Bank.[10]

In 2013, Barclays Corporate and Employer Solutions announced a partnership with Solium to white-label Shareworks.[11]

In 2014, Solium opened an office in Sydney, Australia.[2] Later that year, BHP Billiton became a client.[12]

In 2016, Morgan Stanley announced that it would use Shareworks to serve its U.S. clients.[1][13][14]

In 2017, UBS began to white-label Shareworks to run its Equity Plan Advisory Services.[1]

In 2017, Solium acquired Capshare and let it continue to run as an independent entity.[15][16][17]

in 2018, Solium acquired Advanced-HR, a U.S. company that provides compensation data and compensation planning software for private and venture backed companies.[18]

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).[19][20]

    References
    1. "Yedlin: Meet Calgary's best kept tech secret". Calgary Herald. 2017-08-15. Retrieved 2018-01-12.
    2. Elias, Craig (February 15, 2013). "Acquisitions accelerate Calgary tech firm's global growth". The Globe and Mail. Retrieved October 17, 2017.
    3. "2016 Solium Annual Report" (PDF). Solium. Retrieved October 18, 2017.
    4. "Solium Capital is a buy, says Canaccord Genuity". Cantech Letter. 2017-05-30. Retrieved 2018-02-02.
    5. The Canadian Press, "Morgan Stanley buying Calgary-based Solium Capital for $1.1 billion" (Can$), Calgary Herald, February 11, 2019. Retrieved 2019-02-11.
    6. Hoffman, Liz, "Morgan Stanley, in Biggest Deal Since Crisis, Courts Future Millionaires" (subscription required), Wall Street Journal, February 11, 2019. Retrieved 2019-02-11.
    7. "Solium Capital". The Calgary Herald. April 18, 2013. Retrieved October 17, 2017.
    8. "Initial Public Offering - Solium Capital Inc. - Prospectus". Morningstar. April 30, 2001.
    9. Anderson, Darren (August 17, 2010). "Solium Capital announces acquisition of Computershare business unit". Techvibes. Retrieved October 17, 2017.
    10. "SVB Analytics, Inc., CapMx Business: Private Company Information - Bloomberg". www.bloomberg.com. Retrieved 2017-10-18.
    11. Paterson, Jennifer (March 11, 2013). "Barclays C&ES launches global shares and reward services". Employee Benefits. Retrieved October 17, 2017.
    12. "A Canadian small cap stock with global ambitions". Retrieved 2018-01-12.
    13. "Solium Capital gets "outperform" rating as National Bank Financial launches coverage". Cantech Letter. 2017-09-15. Retrieved 2018-02-02.
    14. "Solium Capital is showing its technological edge, says Canaccord Genuity". Cantech Letter. 2018-05-23. Retrieved 2018-06-11.
    15. Constine, Josh. "Cap table apps team up as Solium acquires Capshare". TechCrunch. Retrieved 2017-10-16.
    16. "Calgary's Solium Announces Acquisition of Capshare". Techvibes. Retrieved 2017-10-24.
    17. "Solium Capital gets price target raise at Laurentian". Cantech Letter. 2017-10-11. Retrieved 2018-02-02.
    18. GmbH, finanzen net. "Solium Announces Acquisition of San Francisco-Based Technology Company, Advanced-HR | Markets Insider". markets.businessinsider.com. Retrieved 2020-01-23.
    19. "Morgan Stanley to Acquire Solium, Creating a Leading Provider of Stock Plan Administration and Workplace Wealth Solutions". Morgan Stanley. Retrieved 2019-08-27.
    20. Inc, Solium Capital. "Solium Releases 2018 Fourth Quarter and Year-end Financial Results". www.newswire.ca. Retrieved 2020-01-23. {{cite web}}: |last= has generic name (help)
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