Recently, Deluxe Corporation (NYSE:DLX) announced that it had signed an agreement to acquire RDM Corporation (“RDM”), based in Waterloo, Ontario, and publicly traded on the Toronto Stock Exchange. On April 4th, the companies announced that the acquisition was completed, following shareholder and Canadian regulatory approval. RDM is a provider of remote deposit capture (RDC) software, hardware and digital imaging solutions for financial institutions and corporate clients primarily in the United States. RDM customers include four of the top 10 banks in the US market and 31 percent of the top 100 Fortune 500 companies. This acquisition will enhance Deluxe’s WAUSAU Financial Systems business, adding to its extensive suite of best-in-class treasury management solutions, strengthening their value proposition and improving their market position.
Cherry Tree’s Role
Cherry Tree was engaged by Deluxe to advise the company in its acquisition of RDM, working with Senior Leadership, Wausau Financial Systems, and the Deluxe corporate development team in evaluating the business case, negotiating the terms of the transaction, providing financial modeling and valuation analysis, supporting the due diligence process, and facilitating the closing of the transaction.