Proxy and shareholder communication firm Georgeson Shareholder Services has acquired shareholder mailing firm Alamo Direct Mail in a $15.5 million deal. Through the acquisition, Georgeson aims to boost its standing as a comprehensive service provider for the mutual fund industry by incorporating Alamo's Internet-based shareholder data-processing capabilities.
Steve Rothbloom, president of Computershare N.A., Georgeson's parent company, trumpeted the acquisition as a pivotal move for the mutual fund industry. "This is a market transforming event," he said. "We believe we can lay claim to be the only all inclusive' proxy service provider to the mutual fund industry, an industry that has expressed enthusiastic support for this end-to-end concept."
Under the terms of the deal, Alamo will retain its senior management, including Michael Nelson, president, founder and CEO.