TMX Group Completes Acquisition of AST Investor Services and Its Subsidiary

​TMX Group, a Canadian financial services company that operates equities, fixed income, derivatives, and energy markets exchanges, announced that it has completed the acquisition of AST Investor Services Inc. (Canada) and its subsidiary AST Trust Company (Canada).

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AST Investor Services Inc. (Canada) and AST Trust Company (Canada) offer a comprehensive portfolio of products and services, currently including transfer agency services, equity plan solutions, corporate trust, structured finance and proxy related services, with approximately 150 employees in offices in Toronto, Montreal, Calgary and Vancouver.

The plan of acquiring the companies was first announced in September last year​, as TMX Group agreed to purchase for $165 million in total consideration, which includes $30 million of cash for regulatory and non-regulatory purposes.

The acquisition is expected to enhance the competitive position of TMX Group's TSX Trust business by adding a complementary portfolio of transfer agency, equity plan solutions, corporate trust, structured finance, and proxy-related services. 

By broadening the scope and scale of its service offerings, TSX Trust has strengthened its ability to serve the evolving needs of customers across the marketplace and into the future.