CALGARY, May 10, 2017 /CNW/ - Solium Capital Inc.
("Solium" or the "Company") (TSX: SUM), the leading global provider
of software-as-a-service (SaaS) for equity administration,
financial reporting and compliance, today announced that it
anticipates entering into an agreement with UBS Financial Services
Inc. ("UBS") on terms that have been agreed to in principle, that
will extend the current long-standing relationship between Solium
and UBS. Under the new agreement, UBS customers will upgrade
to a UBS branded version of Shareworks, Solium's industry leading
stock plan administration platform. UBS will continue to
manage all of the service and support functions provided to their
corporate clients and associated employee participants, including
its wealth management services and digital employee experience.
"Corporate clients tell us that state-of-the-art corporate
facing technology is critical for them," stated Michael Barry, Head of Equity Plan Advisory
Services, UBS Wealth Management Americas. "Leveraging Shareworks
technology allows us to focus on accelerating our efforts to
deliver education and advice through our Financial Advisors and
digital channels. We are firmly committed to the equity plan
business. An important aspect of that is helping both our corporate
clients and participants achieve success. Our industry is
evolving and UBS will continue to be a leader and at the forefront
of change."
"This arrangement is a testament to the power of the
long-standing relationship that we have enjoyed with UBS in the US
marketplace. We are excited to enable UBS with the Shareworks
platform," said Marcos Lopez,
Solium's CEO. "The Shareworks platform's modern architecture
and rich features will enable UBS to continue to provide
leading-edge technology to its clients. We look forward to
continuing to work with UBS and further enabling their stock plan
business."
Under the proposed arrangement, UBS customers will benefit from
a UBS branded version of Shareworks' best-in-breed administration
platform. UBS will continue to provide all aspects of its
service delivery to its clients, including: UBS existing Employee
Participant Platform; Relationship Management; Plan Administration;
Wealth Management Services; Trade Execution; Workplace Education
and Executive Services. Solium will support UBS efforts
through: providing all aspects of the technology infrastructure and
service for plan administrators; supporting UBS use of the
software; delivering industry leading on-line training systems; and
technical support.
Administrators will gain significant capabilities provided by
Shareworks, significantly increasing automated administration
functionality, including superior capabilities around reporting and
expense accounting.
This anticipated agreement will allow for further technology
investment in the Shareworks platform, benefiting all of Solium's
clients, as the additional scale in platform development will
continue to accelerate Solium's Shareworks platform road-map and
extend its technology lead in the marketplace. The
incremental increase in revenues from this relationship is not
expected to be material to Solium in 2017. Solium expects the
profitability of this business, once migrated, to be in line with
the profitability of its business on average across all of its
segments.
"The requirements of our clients and complexities of delivering
to the needs of the global stock plan administration market
continue to increase and we believe that a continued focus and
investment in the capability of Shareworks will ensure that
we will be able to deliver the most comprehensive solution to the
market," added Marcos Lopez. "The
extension of our relationship with UBS will further reinforce this
goal and enable increased acceleration of the features and
capabilities we are able to offer our clients and
partners."
About Solium Capital Inc.
Solium Capital Inc. (TSX: SUM) provides cloud-enabled services
for global equity administration, financial reporting and
compliance. From offices in the United
States, Canada, the United
Kingdom, Europe and Australia, our innovative
software-as-a-service (SaaS) technology powers share plan
administration and equity transactions for more than 3,000
corporate clients with employee participants in more than 100
countries. Follow us @Solium and visit us at solium.com.
About UBS AG
UBS AG provides financial advice and solutions to wealthy,
institutional and corporate clients worldwide, as well as private
clients in Switzerland. The
operational structure of the Group is comprised of our Corporate
Center and five business divisions: Wealth Management, Wealth
Management Americas, Personal & Corporate Banking, Asset
Management and the Investment Bank. EPAS is part of Wealth
Management Americas. UBS's strategy builds on the strengths
of all of its businesses and focuses its efforts on areas in which
it excels, while seeking to capitalize on the compelling growth
prospects in the businesses and regions in which it operates, in
order to generate attractive and sustainable returns for its
shareholders. All of its businesses are capital-efficient and
benefit from a strong competitive position in their targeted
markets.
UBS is present in all major financial centers worldwide. It has
offices in 54 countries, with about 34% of its employees working in
the Americas, 35% in Switzerland,
18% in the rest of Europe, the
Middle East and Africa and 13% in Asia Pacific. UBS Group AG employs
approximately 60,000 people around the world. Its shares are listed
on the SIX Swiss Exchange and the New York Stock Exchange
(NYSE).
Certain statements included or incorporated by reference in
this press release constitute forward-looking statements or
forward-looking information under applicable securities
legislation. Forward-looking statements or information
typically contain statements with words such as "anticipate",
"believe", "expect", "will", "plan", "intend", "estimate",
"propose", or similar words suggesting future outcomes or
statements regarding an outlook. Specific forward-looking
statements in this press release include statements with respect
to: the anticipated entering into of a definite agreement with UBS
and the specific terms of that agreement; planned future technology
investment; the level of revenue contribution from the
relationship; the expected profitability of Solium; and Solium's
future position in the marketplace . Such forward-looking
statements or information are based on a number of assumptions
which may prove to be incorrect, including assumptions with respect
to: Solium and UBS obtaining the necessary internal approvals to
enter into the agreement and the parties entering into a definitive
written agreement on substantially the same terms as have been
agreed to in principle; the ability of Solium to identify, hire,
train, motivate and retain qualified personnel; the ability of
Solium to efficiently and profitably scale development of the
Shareworks platform; research and development costs; Solium's
ability to maintain or adequately forecast revenue from and costs
of its products and services; and the competitive environment in
which the Company operates. Although Solium believes
that the expectations reflected in such forward-looking statements
or information are reasonable, undue reliance should not be placed
on forward-looking statements or information because Solium can
give no assurance that such expectations will prove to be
correct. The forward-looking statements and information are
based on Solium's current expectations, estimates and projections,
and are subject to a number of significant risks and uncertainties
that could cause actual results to differ materially from those
anticipated, including development costs, general business and
economic conditions, actions of competitors and partners, the
regulatory environment and product capability and acceptance.
Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information.
SOURCE Solium Capital Inc.