REGINA — The Government of Saskatchewan has extended its Master Service Agreement (MSA) with Information Services Corporation (ISC) to 2053.
The MSA has been in place since 2013 with a term to 2033 and is now extended to 2053. Under its terms, ISC continues to be the exclusive manager and operator of the Saskatchewan Land Registry, the Saskatchewan Personal Property Registry, Land Surveys Directory and the Saskatchewan Corporate Registry.
The terms include an initial one-time payment of $150 million from ISC to the Government of Saskatchewan and additional payments of $30 million per year, for the following five years starting in 2024. Starting in 2033, the agreement allows for contingent payments for the remaining life of the agreement tied to the overall growth of registry revenue.
"This agreement is beneficial for all stakeholders, including the province, the people of Saskatchewan, and ISC's long-standing and extremely supportive shareholders," ISC President and CEO Shawn Peters said.
"We look forward to continuing to serve the users of Saskatchewan registries for the next 30 years while executing our long-term growth strategy for the company overall."
Headquartered in Regina, Saskatchewan, ISC is a leading provider of registry and information management services for public data and records.
