Citigate acquires stockwatch firm for at least dollars 500k

NEW YORK: Citigate has bulked up its information capacities by acquiring the stockwatch and shareholder identification arms of Wall Street tracking firm Kissel-Blake from Georgeson Shareholder Communications.

NEW YORK: Citigate has bulked up its information capacities by acquiring the stockwatch and shareholder identification arms of Wall Street tracking firm Kissel-Blake from Georgeson Shareholder Communications.

NEW YORK: Citigate has bulked up its information capacities by

acquiring the stockwatch and shareholder identification arms of Wall

Street tracking firm Kissel-Blake from Georgeson Shareholder

Communications.



Terms of the deal were not disclosed, but one source familiar with the

acquisition bid said Citigate paid more than dollars 500,000 in cash for

KB to snare the company away from another suitor, Corporate Investor

Communications of Carlstadt, NJ.



KB’s ownership identification and analysis functions will be integrated

into Citigate’s New York operation. Meanwhile, KB’s proxy business will

remain in Georgeson’s hands.



’We have been targeting the US market for growth,’ said Chris Taylor,

Citigate’s director and head of shareholder intelligence. ’The deal

allows us to really establish a beachhead in the US.’



Taylor said the stockwatch business - in which a firm monitors the sale

of large chunks of a company’s stock - has seen exponential growth from

small companies that have recently gone public. ’I think they really

want to know what has changed in their ownership profile,’ he said.



The deal gives Citigate’s stockwatch and shareholder ID business a shot

in the arm with 45 new clients, for a total of more than 110 worldwide.



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