TerraData.ai to acquire JC Data Solutions
TerraData.ai, a real estate, oil and gas, and alternative energy data provider, has agreed to acquire JC Data Solutions (JCDS), which serves the funds and document distribution industry.
As per the terms of the all-cash merger, JC Data Solutions’ shareholders will be paid $0.0012 in cash per share. Upon completion of the deal, JC Data Solutions will become a private, full-owned subsidiary of TerraData.ai.
JC Data Solutions has developed a service called – Payment Manager, which helps oil and gas companies save several thousands of dollars by improving and optimizing their funds distribution process.
TerraData.ai to acquire JC Data Solutions. Photo courtesy of Adam Radosavljevic from Pixabay.
On the other hand, TerraData.ai is engaged in gathering real property information for providing models, insights, and visualizations with specialization in real property, oil and gas and alternative energy information.
The deal, which is subject to approval of JC Data Solutions’ shareholders and certain other customary conditions, is anticipated to close in Q2 2021.
Cary Allen, the company’s chairman of the board and CEO has agreed to vote in favor of the deal. He holds nearly 57% of the aggregate voting power of JC Data Solutions.