US market operator Nasdaq has signed a definitive agreement to acquire Directors Desk, a privately-held firm that provides technology to boards of public and private companies, including automated record keeping and Web conferencing. Terms of the transaction were not disclosed.
Founded in 2003 Washington-based Directors Desk currently serves more than 1000 board members globally across industries including healthcare, technology, financial services, consumer products and transportation.
The firm's services are delivered through a secure online portal. Functionality and features include automated record keeping to satisfy regulatory requirements, online discussions, voting and surveys, document management, event management and Web conferencing.
Bruce Aust, EVP of Nasdaq, says: "Efficient and effective communication has become an increasingly difficult task at the board level in an environment where corporations and board members must manage more information that is increasing in complexity.
"Directors Desk helps streamline the day-to-day functions of board management and eases the burden on directors so that they can focus on the information that is most critical to decision making."
Nasdaq says Directors Desk will be part of a new service category in its corporate client group.
The acquisition follows the introduction in May of Nasdaq's Board Recruiting service, an online matching system for companies and board members.
The transaction is expected to close early in the third quarter.