Information Services Corporation has received multiple preliminary takeover offers as part of a strategic review launched earlier this fall.

The Globe and Mail reported that the Regina-based data and digital-infrastructure firm received non-binding bids from four prospective buyers last week, citing two sources familiar with the process. The company began exploring strategic alternatives in early September following an activist campaign.

According to the report, the bidders include several large pension fund and infrastructure investors, attracted by ISC’s stable, long-term cash flows generated from property registration and digital information services. The offers reportedly value the company at up to about $1 billion.

The board and its advisers are expected to decide in the new year whether to enter formal negotiations with any of the interested parties, according to the Globe. ISC and at least one potential bidder declined to comment to the Globe on the review, while others could not be reached.

ISC operates one of Canada’s largest property registries and holds a long-term contract to provide land-title and registry services in Saskatchewan. The company has also expanded internationally and into other digital government services, including environmental and charitable registries.

The company’s largest shareholder is Crown Investments Corporation of Saskatchewan, which supported the decision to launch the strategic review. The Saskatchewan government has signalled that maintaining ISC’s head office in Regina and preserving provincial economic benefits will be important considerations in any potential transaction, the Globe reported.

Photo: ISC