Come January, Swingvote—an Atlanta-based startup—plans to go head to head with ADP Investor Communications Services in the proxy voting service marketplace. Currently, the shareholder services group at $7.4 billion ADP holds a virtual monopoly for the distribution of proxy material.
The development may be important to public companies, as it will impact costs associated with mailing their proxy materials in preparation for annual meetings. In the past, critics have suggested that there has been no downward pressure on pricing given the dearth of competition in the field.
