Toronto-based TMX Group Ltd., the parent firm of the Toronto Stock Exchange (TSX), has sold the business of its investor relations subsidiary, The Equicom Group Inc. (Equicom), to National Public Relations Inc. of Toronto,
The transaction closed on Tuesday. The terms were not disclosed.
The decision to sell Equicom was made within the scope of TMX Group’s recent organizational review and strategic realignment, which was announced on June 2.
See: TMX announces executive changes, strategic realignment
The stated goal of the review was to sharpen the focus of TMX Group’s investment strategy on a core set of product and service offerings.
“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, TSX, in a statement.