Financial Printing--Strength In Numbers
"Although the first three quarters of 1999 witnessed a slight decrease in the number of new securities offerings," Greco notes, "Donnelley Financial continued to increase its IPO business, and additional sources of growth came from industries such as telecommunications and cable TV, which experienced ongoing consolidation as participants jockeyed for dominance. Investment companies, managed care organizations and pharmaceutical firms—seeking to retain assets under management—continued to invest more in the customized, personalized communications."
Greco says Internet-related offerings are continuing to fuel growth in the IPO market, and the M&A market is expected to remain robust for the foreseeable future. He emphasizes that, with its vast printing capacity, Donnelley Financial is able to handle large global deals through its multiple-media and multi-site capabilities, and project management skills. As evidence of its leadership in this area, Greco notes that Donnelley
Financial was involved in the largest M&A transactions in the 1990s.
"Our company negotiated three alliances this year that will position it well to take advantage of shifting market trends," Greco says. "To satisfy the demand among mutual fund companies and plans sponsors to retain and grow assets via personalized/customized communications, Donnelley Financial teamed up with Experian, gaining access to the world's largest consumer database, and PostX, a company that enables electronic distribution of important compliance information and documents.
"Last month, Donnelley Financial entered into a strategic relationship with USWeb/CKS to strengthen its Internet-based and e-commerce offerings, and to provide financial clients with one-source, integrated solutions," Greco adds. "The company also expanded its printing and customized communications service offering for the healthcare and pharmaceutical sectors."
On a regulatory note, Greco says the biggest event of 1999 was the introduction of EDGAR II filings using HTML technology. As it did with the "plain English" initiative, Greco says Donnelley Financial took the lead in educating capital markets and investment company audiences through a series of publications and seminars explaining the transition to, and attendant benefits of, HTML filings via EDGAR.