The stockholders of EDGAR Online approved the stock issuances contemplated by the merger agreement at the company’s 2010 Annual Meeting on 18 November 2010 following previous approvals by the Board of Directors of the company, and the Board of Directors and shareholders of UBmatrix.
UBmatrix, one of the original inventors of the XBRL financial standard, will operate as a wholly-owned subsidiary of EDGAR Online, maintaining its existing brands.
EDGAR Online interim CEO John Connolly said UBmatrix’s products are great complements to EDGAR Online’s existing filing creation services and data products that will enable EDGAR Online to efficiently expand its XBRL footprint, take advantage of new partnerships, customers and efficiencies, and capitalize on a dynamic and growing market.
