A Quebec investment group has purchased Saskatchewan's Information Services Corp. for $1.2 billion in cash, the company announced Tuesday. The deal, led by Plenary Americas LP, a subsidiary of Quebec pension fund manager La Caisse, will see the Regina-based data management service continue operations under current leadership.
Deal Details and Leadership
Under the terms, Information Services will retain its Regina head office and continue to be led by CEO Shawn Peters. The sale is expected to close in the third quarter of 2025, with shareholders receiving $51 per Class A share. Crown Investments Corp. of Saskatchewan will maintain a 29.5% stake, while Plenary Americas will own the remaining shares.
Strategic Growth Plans
Peters expressed confidence in the transaction, stating it recognizes the company's success and provides long-term capital to accelerate growth. Plenary Americas CEO Brian Budden highlighted plans to expand services into new jurisdictions in Canada and the United States, leveraging the company's expertise in public registry services and technology.
Information Services was originally established as a Saskatchewan Crown corporation in 2000 to administer land registries. It went public on the Toronto Stock Exchange in 2013, with the province retaining a golden share. Recent amendments to provincial rules allow Saskatchewan to veto any transfer of intellectual property or assets related to provincial registries.
Background and Shareholder Activity
Questions about the company's future emerged in March 2025 when shareholder Plantro Ltd. pushed for board changes. Information Services later rejected Plantro's offer to buy shares at $27.25 each, calling it unsolicited and coercive. In September, the company launched a strategic review to maximize shareholder value, culminating in the unanimous approval of the takeover by an independent committee.
The company is three years into a five-year growth plan and aims to double its size with Plenary's support. The deal provides stable, long-term capital to fuel expansion into new markets.
