REGINA, Saskatchewan, Jan. 18, 2023 (GLOBE NEWSWIRE) — Information Services Corporation (TSX:ISV) (“ISC”, “we” or the “Company”) announced today the acquisition, through a wholly owned subsidiary, of all of the shares of Regulis S.A. (“Regulis”), the Registrar designate for the Luxembourg Rail Protocol, from SITA B.V. (“SITA”).
The Luxembourg Rail Protocol sets up a new legal regime for the recognition and enforcement of security interests in railway rolling stock, such as those of lenders, lessors and conditional vendors. Regulis was established as the entity to manage and operate the associated International Registry for Railway Rolling Stock (the “Registry”) for an initial contract period of ten years. As this is a new Registry, ISC does not consider this acquisition to be material to its current business.
“We are extremely pleased to complete this transaction,” says ISC President and CEO, Shawn Peters. “Our strategic interest in Regulis is based on our commitment to registries as our core competency, our legacy, and central to our long-term purpose. Developing and operating public registries is the reason ISC was created, and our focus remains on building modern registries that meet the unique needs of our clients and their customers.”
Peters continued, “We are enthusiastic about the impact the Registry will have to further the development of the global rail sector. ISC will continue to expand its portfolio of services and solutions to help improve the delivery of registry services by and for governments, intergovernmental and private organizations. Regulis does just that as we expand to deliver the Registry for the railway rolling stock sector.”
ISC is well-positioned to fulfil the Registry requirements — particularly given the strong fit with ISC’s operational capabilities, experienced team and direct alignment with our proven RegSys™ solution. Additionally, ISC has extensive expertise in collateral registries, including the end-to-end operation and management of the Personal Property Registry in Saskatchewan, Canada, where ISC is based.
To find out how ISC can help drive greater value for your registries, please visit company.isc.ca or contact:
Laurel Garven
Vice President, Corporate Development & Business Strategy
Email: corpdev@isc.ca
About ISC®
Headquartered in Canada, ISC is the leading provider of registry and information management services for public data and records. Throughout our history, we have delivered value to our clients by providing solutions to manage, secure and administer information through our Registry Operations, Services and Technology Solutions segments. ISC is focused on sustaining its core business while pursuing new growth opportunities. The Class A Shares of ISC trade on the Toronto Stock Exchange under the symbol ISV.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian securities laws including, without limitation, those related to the industries in which we operate, growth opportunities and our future financial position and results of operations. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include risks relating to changes in the condition of the economy, including those arising from public health concerns, reliance on key customers and licences, dependence on key projects and clients, securing new business and fixed-price contracts, identification of viable growth opportunities, implementation of our growth strategy, competition and other risks detailed from time to time in the filings made by the Company including those detailed in ISC’s Annual Information Form for the year ended December 31, 2021 and ISC’s unaudited Condensed Consolidated Interim Financial Statements and Notes and Management’s Discussion and Analysis for the third quarter ended September 30, 2022, copies of which are filed on SEDAR at www.sedar.com.
The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities laws, ISC assumes no obligation to update or revise such information to reflect new events or circumstances.
Investor Relations
Jonathan Hackshaw
Senior Director, Investor Relations & Capital Markets
Toll Free: 1-855-341-8363 in North America or 1-306-798-1137
investor.relations@isc.ca
Media
Jodi Bosnjak
External Communications Specialist
Toll Free: 1-855-341-8363 in North America or 1-306-798-1137
corp.communications@isc.ca
Source: Information Services Corporation
