TMX Group has sold the business of its investor relations subsidiary The Equicom Group Inc. to NATIONAL Public Relations Inc.
"Equicom provides excellent investor relations consulting services to our clients and we are pleased to continue recommending its services to our listed issuers under NATIONAL's leadership," said Ungad Chadda, Senior Vice President of the Toronto Stock Exchange.
The terms of the transaction were not disclosed.
The decision to enter into the deal was made within the scope of TMX Group's recent organizational review and strategic realignment, which was announced on June 2.
The stated goal of this process was to sharpen the focus of TMX Group's investment strategy on a core set of product and service offerings.
The transaction closed today.
It’s been a busy couple of days for the TMX Group after announcing the departure of president and group head of equities, Kevan Cowan.
TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy