Docupace Announces Independence from RCS Capital (RCAP)
20 April 2016 - 3:42PM
Business Wire
Financial Tech Firm to Repurchase RCS
Capital Corporation’s Shares
Docupace Technologies LLC, financial services’ premier digital
compliance and cyber security company, announced today that it will
pursue growth independently of investment from RCS Capital
Corporation (NYSE: RCAP). Docupace has reached an agreement with
RCAP to repurchase their majority share stake and continue its
growth trajectory as a privately owned corporation.
Docupace received a significant investment from RCAP in
September 2014, as part of RCAP becoming a majority shareholder in
the company. Following the investment, Docupace expanded its
offerings with financial technology products, including cyber
security services, compliant Straight-Through Processing and
digital Alternative Investment processing. During this time,
Docupace operated as an independent business unit under the
executive leadership of founder and CEO Michael Pinsker.
Repurchasing the RCAP interests will enable Docupace to focus on
fueling its growth in the marketplace with widespread
implementation of its groundbreaking Straight-Through Processing
technology, enabling broker-dealers to digitally process all
aspects of their business, including document and client
management, payment processing, mailings, e-signature, etc.,
securely and in compliance with SEC/FINRA regulations.
“It’s an exciting new chapter for Docupace as we prepare to
reorient to an independent position,” said Michael Pinsker,
founder, CEO and president of Docupace. “We’d like to thank all of
our clients for remaining by our side during this uncertain time.
Our strategic direction toward private ownership will allow us
flexibility in a quickly-changing marketplace and enable us to
innovate as we work to transform the financial services
industry.”
Pinsker and the existing Docupace executive management team will
continue to lead day-to-day operations and there will be no changes
to staff, operations, processes or client relationships during the
transition. The transaction is expected to close sometime in
May.
About Docupace
Technologies
Based in Los Angeles, Docupace is a premier provider of secure
and federal and state law compliant electronic processing platforms
for financial institutions and the wealth management industry. The
company pioneered and implemented SEC/FINRA compliant
Straight-Through-Processing (STP) technology for the financial
services industry. The company’s document management and workflow
solutions simplify the process of capturing, organizing, routing
and accessing information. Docupace was first-to-market with
patent-pending technologies that serve the largest financial
service providers and their advisors who, driven by increased
levels competition, privacy issues, document protection and
government regulation, are adopting the company’s document
management and workflow solutions in order to sustain profitability
and audit-risk assurance. As a leading provider of cyber security
services, Docupace also helps broker-dealers and financial services
firms become cyber secure by assessing vulnerabilities, correcting
potential gaps, and providing ongoing monitoring. For more
information, visit docupace.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160420005913/en/
The Pollack PR Marketing GroupStefan Pollack/Mark
Havenner310-556-4443spollack@ppmgcorp.commhavenner@ppmgcorp.com
(NYSE:RCAP)
Historical Stock Chart
Von Aug 2024 bis Sep 2024
(NYSE:RCAP)
Historical Stock Chart
Von Sep 2023 bis Sep 2024