Davis + Henderson buys remainder of Compushare stock in diversification move

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TORONTO, Cananda - Davis + Henderson Corp. (TSX:DH) has acquired full ownership of California-based Compushare Inc., as part of its strategic focus on financial technology services for community banks and credit unions across the United States.

Compushare uses online technology to assist financial institutions control costs and improve efficiency as they prepare for increased compliance requirements. It currently has about 385 customers.

Toronto-based D+H acquired a minority stake in Compushare Inc. last April and announced Wednesday it has exercised its option to acquire 100 per cent of the Santa Ana-based company's stock. Terms of the deal weren't disclosed.

"Compushare's capabilities are an excellent complement to D+H's existing service portfolio for U.S. community banks and credit unions and will better position us as a leading solutions provider to the North American financial services industry," said Gerrard Schmid, D+H's chief executive officer.

"D+H now supports over 1,700 community banking and credit union customers in the United States, and we look forward to seeing the results of our continued investment in the U.S. as D+H executes its strategy and expands its presence in the North American fintech industry."

Organizations: Compushare, Davis + Henderson, TSX North American

Geographic location: United States, TORONTO

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