Issuer Direct and EDGAR Online Announce Strategic Alliance
June 17 2010 - 9:29AM
Issuer Direct Corporation (OCTBB:ISDR) and EDGAR® Online, Inc.
(Nasdaq:EDGR) jointly announced today that they have entered into a
Strategic Alliance that calls for both parties to work together to
deliver next -generation compliance and communications offerings
based on XBRL (eXtensible Business Reporting Language) technology
to the mutual fund marketplace through iFUND Direct.
As part of the agreement, Issuer Direct will begin offering
EDGAR Online's industry-leading XBRL tagging services to the mutual
fund marketplace. Additionally, the two companies will work
together to integrate EDGAR Online's XBRL tools into Issuer
Direct's Interactive Fund Platform; blending both companies
customer facing workflow technologies and back-office systems.
"We are delighted to be working with EDGAR Online and their XBRL
team," said Brian R. Balbirnie, Chief Executive Officer.
"Part of our strategy has always been to extend the best of
breed in regulatory solutions to compliance professionals – EDGAR
Online exemplifies this strategy." Balbirnie continued, "Once
integration is complete with EDGAR Online, our compliance portal
will be the only real-time filing, collaboration and approval
system that will integrate their XBRL tools into our industry
leading workflow compliance system."
"We are very excited about our alliance with Issuer Direct,"
said Philip Moyer, EDGAR Online Chief Executive Officer. "This
agreement ultimately benefits the mutual fund companies through a
combined first-class XBRL compliance solution. Issuer Direct
is a recognized leader in the compliance space and has ratcheted up
the value they deliver to clients through the addition of our
innovative XBRL translation service," added Moyer.
About Issuer Direct:
Issuer Direct Corporation (ISDR) is a market leader and
innovator in public company products and services. As an
issuer/fund compliance focused company, Issuer Direct alleviates
the complexity of maintaining compliance through integrated
products and services that help companies produce and distribute
their financial and business communications both online and in
print. As a shareholder compliance company, Issuer Direct is
dedicated to assisting corporate issuers and mutual funds in an
ever-changing regulatory environment and to comply with the myriad
of rules imposed by regulatory bodies. To learn more visit
http://www.issuerdirect.com
The Issuer Direct logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4547
About the Interactive Fund Platform:
iFUND Direct is a leading Fund platform that enables both Fund
Administrators and Mutual Funds the ability to move regulatory
filings into real-time production and internet availability via an
intuitive secure web interface. Mutual Fund managers can upload,
configure and distribute Annual Reports, Semi-Annual Reports,
Summary Prospectuses, Prospectuses, and additional information to
investors in seconds with our innovative proprietary technologies
that incorporate both Print-on-Demand (POD) and e-delivery (EOD).
Each iFUND platform also integrates our XBRL viewers, management
workflow reporting and secure hosted document library. To learn
more visit http://www.ifunddirect.com
About EDGAR Online:
EDGAR Online, Inc. (Nasdaq:EDGR) is a leader in the distribution
of company data and public filings for equities, mutual funds and a
variety of other publicly traded assets. We deliver our information
products directly to end users via online subscriptions and data
licenses, and to redistributors who embed our content in their own
and their clients' Web sites.
Our proprietary automated systems allow for the rapid conversion
of data and we are a pioneer and leader in the global financial
reporting standard—eXtensible Business Reporting Language,
otherwise known as XBRL. We use our automated processing platform
and our expertise in XBRL to produce both datasets and tools and to
assist organizations with the creation, management and distribution
of XBRL financial reports. For more detailed information on all of
our businesses or to contact us please visit our Web site at
http://www.edgar-online.com/
EDGAR® is a federally registered trademark of
the U.S. Securities and Exchange Commission. EDGAR Online is not
affiliated with or approved by the U.S. Securities and Exchange
Commission.
CONTACT: Issuer Direct Corporation
Brian R. Balbirnie
919-481-4000
brian.balbirnie@issuerdirect.com
EDGAR Online, Inc.
Deb Doane
203-852-5664
ddoane@edgar-online.com
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