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RPM Technologies to Acquire Winfund from Mackenzie Investments(July 09, 2012)
TORONTO, ONTARIO -- (Marketwire) -- 07/09/12 -- RPM Technologies, a Canadian software development company specializing in financial services solutions, has entered into a definitive agreement to purchase all shares of Winfund Software Corp., which includes 100% of Winfund's assets and operations, from Mackenzie Financial Corporation (Mackenzie Investments), a subsidiary of IGM Financial Inc. (TSX:IGM). The transaction is expected to close on July 31, 2012. Financial details of the transaction have not been disclosed.
RPM plans to maintain Winfund as separate and distinct, continuing its operations in its current state. Winfund's clients should expect a smooth and orderly transition, with no interruption to the level or quality of service they are accustomed to receiving. Winfund's staff will continue to serve Winfund's clients and day-to-day operations will be "business as usual."
Dave Poppleton, President & CEO, RPM Technologies indicates that "the acquisition of Winfund is very complementary to RPM's business. Winfund focuses primarily on MFDA and insurance companies, and RPM specializes in enterprise wealth solutions for investment dealers and banks. Together, the two companies will be in a strong position to serve the varied needs of all sizes of wealth management firms operating in various regulatory jurisdictions. We look forward to welcoming Winfund clients."
"It was a top priority to find the right buyer for Winfund, and with a leading software development company like RPM, Winfund's employees and clients are in excellent hands," said Charles R. Sims, President and Chief Executive Officer of Mackenzie Investments. "This strategic decision to sell Winfund allows Mackenzie to stay focused on our core competencies of investment management, distribution and client servicing. Winfund remains a strong business and we're pleased that subsidiaries of IGM will continue using Winfund's services."
About RPM Technologies: RPM Technologies is a privately held Canadian company focused on investing in and building software solutions for the Canadian financial services marketplace. RPM has been providing system solutions to the investment industry for over 15 years. Its staff of more than 100 business and technical experts provides services to financial institutions in Canada. RPM is considered an industry leader in investment distribution and product recordkeeping systems. RPM's enterprise platforms are implemented within all sectors of the wealth management market, including Dealers (IIROC and MFDA), Banks and Investment Funds.
About Mackenzie Investments: Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $60.7 billion in assets under management as at June 30, 2012, Mackenzie Investments distributes its investment services through multiple distribution channels to both retail and institutional investors. Mackenzie Investments is a member of the IGM Financial Inc. (TSX:IGM) group of companies. IGM Financial is one of Canada's premier financial services companies with $118 billion in total assets under management as at June 30, 2012. For more information, visit www.mackenziefinancial.com.
Mark Van Rassel
Director, Communications and Media Relations
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