sur ACCESSWIRE (NASDAQ:ISDR)
ACCESS Newswire Sells Compliance Division to Equiniti Trust
ACCESS Newswire has completed the sale of its compliance division to Equiniti Trust Company, LLC for $12.5 million. This strategic move marks the company's full transition to a communications SaaS subscription model. The deal, finalized on February 28, 2025, includes $12 million paid at closing with $500,000 held back for a year. ACCESS plans to use these funds to reduce its debt from $15.3 million to approximately $3.3 million.
The transaction is expected to enhance EBITDA margins and improve monthly recurring revenue. ACCESS's new focus will be on its core subscriptions: ACCESS IR, ACCESS PR, and All ACCESS, aiming to lead the communications industry. The compliance division's transfer includes 11 employees and associated contracts.
Post-transaction, ACCESS will amend its financial arrangements and record certain non-cash charges due to the business sale. The company's yearly and current reports will include relevant adjustments but will not affect cash flows.
R. E.
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