Diversified Global Graphics Group (DG3) announces acquisition of 1StopXBRL Limited
Thursday, November 04, 2010
Press release from the issuing company
London, England and Jersey City, New Jersey - Diversified Global Graphics Group (DG3), a worldwide leader in graphic and electronic communication solutions, announced today the acquisition of 1StopXBRL Limited (1 Stop). The current Managing Director, Dominic Whellams, will lead the 1Stop business for DG3.
1StopXBRL Limited is a supplier of iXBRL and XBRL managed tagging services in the United States, United Kingdom and other International Jurisdictions where the markup language is mandated by government entities in connection with regulated reporting.
The acquisition of 1Stop expands the scope of DG3's current regulatory XBRL initiatives and will add focus to other emerging opportunities for XBRL taxonomies and tagging outside of regulated financial communications.
In the UK, the acquisition comes in the light of the recent HMRC mandate affecting form CT600 and Statutory Accounts. This acquisition further strengthens DG3's position as a leading full service communication partner for companies, accountants and asset managers. DG3 offers a range of self-tagging, managed tagging and fully outsourced service bureau options to its clients in the UK, all of which are ISO9001 certified and backed by the strength of the DG3 group.
In the US, DG3 provides full service XBRL tagging combined with its composition and EDGAR filing services. In addition, DG3 provides FundINSite and proprietary XBRL viewing systems to Mutual Funds to enable them to comply with recent mandates.
"There is a real and imminent market in the UK for iXBRL managed tagging services", commented Peter Furlonge, Chairman of DG3 Europe Limited. "By combining DG3 and 1Stop, we are able to bring unparalleled services and experience as well as a local service delivery model with the backing of one of the UK's largest communications companies. We believe that firms who need iXBRL services will benefit from the combination of DG3's scale and credibility and 1Stop's expertise."
"I am pleased to be working with DG3 on the worldwide XBRL services initiative. DG3 has clear aspirations to embrace the power of XBRL on behalf of its clients across all of its markets. I am excited to be a leader at DG3 for this initiative", commented Dominic Whellams, 1Stop's Chief Executive.
"This is an exciting opportunity to further enhance the services our clients receive from 1stopxbrl. Now a truly world class solution is available in the UK market." commented Andrew Stewart, 1Stop's head of Strategic Development.
Additional details related to the transaction were not disclosed.
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