Canadian DM Firms to Merge
Globel Direct, Inc. will merge with Tiger North America Inc and its PostLinx Corp. subsidiary. As part of the deal, Globel Direct will give roughly 9.4 million shares of its stock, for a total value of just over $2.25 million, to Tiger North Shareholders.
The deal is expected to close in early May.
Globel Direct Inc. provides business communications services, including marketing, billing, customer support and fulfillment. Tiger North America Inc. owns PostLinx Corp. PostLinx specializes in database management, data processing, laser imaging, mail processing and fulfillment services.
The combined company will have annual revenue of more than $50 million., as well as over 1200 customers and 400 employees. It will have facilities in four Canadian cities: Toronto, Vancouver, Calgary and Edmonton.
Globel Direct’s J.R. Richardson will continue as chairman of the board and CEO, while Tony Keenan, Tiger North’s President and CEO will become the president of Globel Direct Inc.
