Solium

Solium Capital, now known as Shareworks by Morgan Stanley, is a subscription-software (SaaS) company headquartered in Calgary, Alberta, Canada.^[1] It is best known for Shareworks, software used by public and private companies to manage their employee stock options and/or cap tables. It also does 409A valuations (see Internal Revenue Code section 409A). The company has ~3,000 clients^[2] and has offices in Canada, the United States, the UK, Europe and Australia.^[3][4] Morgan Stanley announced a definitive agreement to acquire Solium in February 2019^[5] for approximately CAD$1.1 billion (US$900 million), a 40% premium over the recent trading price.^[6]

Solium

Company type	Private
Traded as	TSX: SUM - Former Symbol
Industry	Financial services, Software
Founded	1999; 26 years ago (1999)
Fate	Acquired by Morgan Stanley
Headquarters	Calgary , Canada
Area served	Worldwide
Key people	Marcos Lopez (CEO)
Products	Shareworks Equity Administration Financial Reporting Participant Experience Forms Filing Global Intelligence Cap Table Scenarios Mobile App 409A Valuations
Revenue	US$108.3 million (2018)
Number of employees	781
Website	www.shareworks.com

History

Solium was founded 1999 by two Calgary-based financial advisers, John Kenny and Mark Van Hees.^[7] In 2001, the company made its initial public offering (IPO)^[8] on the TSX Venture Exchange. Early clients included TransAlta, Encana Corp., and Shell Canada Ltd.^[2] In 2004, Solium became profitable.

In 2010, Solium acquired Computershare's Transcentive business.^[9] In this transaction, Solium acquired the Express Options software platform, which UBS white-labeled.

In 2011, Solium opened an office in London, UK.^[2]

In 2012, Solium acquired the CapMx business from Silicon Valley Bank.^[10]

In 2013, Barclays Corporate and Employer Solutions announced a partnership with Solium to white-label Shareworks.^[11]

In 2014, Solium opened an office in Sydney, Australia.^[2] Later that year, BHP Billiton became a client.^[12]

In 2016, Morgan Stanley announced that it would use Shareworks to serve its U.S. clients.^[1][13][14]

In 2017, UBS began to white-label Shareworks to run its Equity Plan Advisory Services.^[1]

In 2017, Solium acquired Capshare and let it continue to run as an independent entity.^[15][16][17]

in 2018, Solium acquired Advanced-HR, a U.S. company that provides compensation data and compensation planning software for private and venture backed companies.^[18]

In 2019, Solium was acquired by Morgan Stanley at a price of CAD$19.15 per Common Share. The total transaction was valued at approximately CAD$1.1 billion (US$900 million).^[19][20]