TheRetirementSolution.com has completed the acquisitions of Investment Tools and Training and the business of Razor Data, two-privately held companies based in Salt Lake City, Utah, that are expected to enable TheRetirementSolution.com to introduce its proprietary platform in the investor education space.
The acquisitions were completed for a combination of convertible debt issued to the sellers and restricted stock with a multi-year lock-up. The acquisition of the business of Razor Data brings immediate revenue to TheRetirementSolution.com, in that it is currently generating approximately $5 million in revenue annually across a large user base, and both the number of users and revenues are growing.
This acquisition is also claimed to be significant for TheRetirementSolution.com’s growth strategy in that Razor Data operates a technology platform on which the company’s future offerings will be built.
Nicholas Maturo, CEO of TheRetirementSolution.com, said: This is a key development for us, as the acquisition of these two companies is central to our growth strategy to market a diverse set of financial products and services, principally on-line. With these companies we have acquired an all-star team of talent that includes individuals with deep sector know-how and experience. They were central to the growth and success of major players now operating in the investor education sector.