Sale Set for Mission Viejo Software MakerMonday, October 8, 2012
Mission Viejo-based business software maker OptionEase Inc. is set to be acquired by a Canadian competitor Solium Capital Inc., the company announced Monday.
Solium, based in Calgary, expects to close the transaction in November.
Financial terms of the deal were not disclosed.
OptionEase was established in 2006, and got $3.5 million in a 2009 financing round led by Corona del Mar-based Miramar Ventures.
The company makes software that helps finance executives, attorneys, entrepreneurs and investors create and track financial information in response to requirements mandated by the Sarbanes-Oxley Act.
It has more than 800 customers that use its software products to organize revenue, tax information, capitalization tables, investor stakes and other compliance data, according to the company.
OptionEase employs about 45 workers.
Founder Kim Kovacs and President Steve DeWindt are expected to take management roles with Solium.
Solium provides cloud-based software and services for equity administration, financial reporting and compliance.
The company counts more 2,800 clients in 80 countries. It is the market share leader in Canada, and the OptionEase buy will provide a foothold in the U.S. market, the company said.
Solium had sales of about $46 million in 2011. It is traded on the Toronto Stock Exchange under the symbol SUM.