Proxy Monitor today closed the deal to acquire Institutional Shareholder Services from Thomson Corp.; it enlisted Hermes Pension Management, owned by British Telecommunications and Warburg Pincus, as both investors and new partners, said James E. Heard, Proxy Monitor CEO. He declined to disclose terms or say what share each firm has in the financing. The deal brings together a leading U.K. shareholder activist firm Hermes and the two leading U.S.-based global proxy-voting recommendation services Proxy Monitor and ISS.
Proxy Monitor plans to fully integrate ISS and expects the firms management team to stay with the combined entity. The name of the newly integrated firm may change, he added.