avis + Henderson Corporation (TSX: DH) (the “Company“) has announced that it has changed its name to “DH Corporation” effective May 5, 2014. The name change was approved by the shareholders of the Company at the annual and special meeting of shareholders held on April 30, 2014. The Company will continue to operate as “D+H” in the market.
The name change is part of a broader strategy to unify the D+H brand and increase brand recognition across North America and globally. The new name also leverages the existing nameplate, which has considerable equity in Canada, while acknowledging the Company’s ongoing evolution into a financial technology leader.
“D+H is now a leading FinTech provider that partners with financial services companies in a much broader market than before,” said Gerrard Schmid, CEO of D+H. “With our strategic acquisitions, almost half of our revenue now comes from the United States. And while we are extremely proud of our roots in the Payments business, today over 70 per cent of our revenue comes from Banking Technology and Lending solutions.”
Now that D+H has significantly expanded its presence in the United States, a market where the Davis & Henderson brand is less well known, the Company is moving to a name that positions it more effectively as a financial technology leader. The new name acknowledges its long history as a trusted partner to leading financial institutions, with deep expertise that enables clients to better grow, compete and optimize their operations.
The Toronto Stock Exchange has informed the Company that its outstanding common shares and 6.00% convertible unsecured subordinated debentures will commence trading under the new name in approximately four or five business days following the date of this announcement. The Company will retain the TSX trading symbol “DH” for its common shares and “DH.DB” for its 6.00% convertible unsecured subordinated debentures.
While DH Corporation will be the company’s new official legal name, the Company will continue to operate as “D+H” and the D+H brand will remain.