This morning, we made an additional announcement regarding our Board of Directors strategic review process. Before we review our third quarter financial results, I'd like to take a moment to discuss this announcement and our business plan to create additional value for the shareowners.
As you know in August, we announced that our board had retained independent financial and legal advisers to assist in an ongoing review of the company's business plan, its assets and its investment portfolio. With the assistance of our advisers, the board engaged in a comprehensive review process and our Board of Directors unanimously determined that continuing to execute the company's business plan and strategy is in the best interest of DST and all of its shareowners.
Our board is confident that the company's focus on 5 key industry verticals: asset management, brokerage, retirement, insurance and healthcare, as well as the development and delivery of customer communications through both print and electronic media, will enhance that shareowner value.
Our growth strategy is to leverage our technology-differentiated solutions to support our customers' information management, business process and customer relationship needs. We're committed to driving future growth by continuing to increase scale, efficiencies and competitiveness as well as expanding our product and service offerings. We will, of course, continue to explore synergistic acquisitions, strategic partnerships and additional investments in areas that enhance the company's existing technology offerings or to create new solutions that meet customer needs.As I will discuss shortly in more detail, we recently completed the acquisition of ALPS Holdings, Inc., which broadens the range of products and services DST offers to the investment management and brokerage industries, including a suite of asset servicing and asset gathering solutions. Through this ongoing review, our board concurred with management's plan as reviewed by advisers, which identified strategic opportunities to further strengthen our business, adjust our capital structure and create value for the shareowners. These opportunities include, among others, the monetization of certain of our non-operating assets and investments. The consideration of that monetization will be subject to market timing, pricing and the potential of tax-efficient transactions.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV