Deluxe Corporation

Transaction Description

Deluxe Corporation (NYSE:DLX) has signed an agreement to acquire RDM Corporation (“RDM”), based in Waterloo, Ontario, and publicly traded on the Toronto Stock Exchange. On April 4th, the companies announced that the acquisition was completed, following shareholder and Canadian regulatory approval. RDM is a provider of remote deposit capture (RDC) software, hardware and digital imaging solutions for financial institutions and corporate clients primarily in the United States. RDM customers include four of the top 10 banks in the US market and 31 percent of the top 100 Fortune 500 companies. This acquisition will enhance Deluxe’s WAUSAU Financial Systems business, adding to its extensive suite of best-in-class treasury management solutions, strengthening their value proposition and improving their market position.

Cherry Tree’s Role

Cherry Tree was engaged by Deluxe to advise the company in its acquisition of RDM, working with Senior Leadership, Wausau Financial Systems, and the Deluxe corporate development team in evaluating the business case, negotiating the terms of the transaction, providing financial modeling and valuation analysis, supporting the due diligence process, and facilitating the closing of the transaction.

About Deluxe Corporation

Deluxe is a growth engine for small businesses and financial institutions. Nearly 4.4 million small business customers access Deluxe’s wide range of products and services, including customized checks and forms, as well as website development and hosting, email marketing, social media, search engine optimization and logo design. For our approximately 5,600 financial institution customers, Deluxe offers industry-leading programs in checks, data analytics and customer acquisition and treasury management solutions including fraud prevention and profitability. Deluxe is also a leading provider of checks and accessories sold directly to consumers. For more information, visit us at www.deluxe.com, www.facebook.com/deluxecorp or www.twitter.com/deluxecorp.

About RDM Corporation

RDM Corporation provides large financial institutions with Remote Deposit Capture (RDC) solutions designed to help their clients simplify the way they do business. RDM processes over $600 billion in payments annually and helps financial institutions increase revenue, expand market share and improve customer service for over 80,000 end users. Four of the top ten financial institutions in the United States use RDM’s payment processing solutions. RDM serves 31 percent of the top 100 Fortune 500 companies including brokerage firms, big-box retailers, healthcare and insurance providers, and government entities. Working with clients for over 25 years, RDM provides both software and hardware solutions including web-based and mobile RDC, and manufactures a wide range of digital imaging scanners. For more information, visit www.rdmcorp.com.

About Cherry Tree & Associates

Cherry Tree & Associates, LLC is a private investment banking firm headquartered in Minneapolis, Minnesota, specializing in serving entrepreneurially-managed companies. Founded in 1980, the firm provides financial advisory engagements for buyers, sellers, and companies seeking growth capital, and provides fairness opinions and other valuation services.