Santa Ana Firm to Merge With Otra Securities
Certificate Transfer Co., a Santa Ana firm that records stock transactions for individual companies and keeps stockholder lists, has agreed to be acquired by Otra Securities Group of Glendale. Financial details of the merger were not released.
Executives at Otra, a $4-million-a-year stock clearing and accounting company, said Friday that Certificate Transfer is a logical addition to the company’s services.
Otra is a “clearing” company that offers stock-related billing, collections and mailings for small, publicly traded companies.
Certificate Transfer has contracts with 200 companies, while Otra has 60 corporate customers, an Otra spokesman said.
“I am very pleased with this agreement and expect through other discussions currently under way to add further clients to the transfer business shortly,” said Bill Stratton, Otra’s chief executive. “This acquisition represents one step in plans to diversify our activities into other areas within the securities business.”
Certificate Transfer is a 7-year-old company with five employees. Otra, founded 3 years ago, has 85 employees.
Through three quarters of 1988, Otra reported earnings of $155,000 on revenue of $2.4 million.