LAKE SUCCESS, N.Y.,
June 5, 2015 /PRNewswire/
-- Broadridge Financial Solutions, Inc. (NYSE: BR) has
completed its acquisition of the Fiduciary Services and Competitive
Intelligence unit from Thomson Reuters' (NYSE: TRI) Lipper
division. The acquisition expands Broadridge's leading enterprise
data and analytics solutions for mutual fund manufacturers, ETF
issuers, and fund administrators, adding new global data and
research capabilities. Broadridge announced its agreement to
acquire the business on May 21, 2015.
Terms were not disclosed.
As previously announced, Broadridge and Thomson Reuters Lipper
also entered into a long term content and brand licensing services
agreement under which Thomson Reuters Lipper will provide
Broadridge with data on investment product classifications,
pricing, performance, benchmarking, product asset positions, and
product flows, ensuring continuity of underlying content and
methodology.
"Adding these solutions to our well established mutual fund and
retirement business provides our clients and the industry with a
comprehensive suite of compliance oversight, fee benchmarking and
competitive intelligence solutions," said Gerard F. Scavelli, president of Broadridge's
Mutual Funds and Retirement Solutions Group. "Broadridge remains
committed to delivering quality service to help clients mitigate
risks, meet their fiduciary responsibilities and enhance sales
productivity. We welcome Thomson Reuters' clients and associates to
the Broadridge organization."
All Thomson Reuters Fiduciary Services and Competitive
Intelligence unit associates in Denver,
Colorado; London, England;
and Gdynia, Poland will join the
Broadridge organization. The acquired capabilities will be
integrated within Broadridge's Mutual Fund and Retirement Solutions
Group, expanding its existing Access Data suite of market
intelligence solutions.
About Broadridge
Broadridge Financial Solutions, Inc.
(NYSE:BR) is the leading provider of investor communications and
technology-driven solutions for broker-dealers, banks, mutual funds
and corporate issuers globally. Broadridge's investor
communications, securities processing and business process
outsourcing solutions help clients reduce their capital investments
in operations infrastructure, allowing them to increase their focus
on core business activities. With over 50 years of
experience, Broadridge's infrastructure underpins proxy voting
services for over 90% of public companies and mutual funds in
North America, and processes more
than $5 trillion in fixed income and
equity trades per day. Broadridge employs approximately 6,700
full-time associates in 14 countries. For more information about
Broadridge, please visit www.broadridge.com.
Forward-Looking Statements
This press release and
other written or oral statements made from time to time by
representatives of Broadridge may contain "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Statements that are not historical in nature,
and which may be identified by the use of words such as "expects,"
"assumes," "projects," "anticipates," "estimates," "we believe,"
"could be" and other words of similar meaning, are forward-looking
statements. These statements are based on management's expectations
and assumptions and are subject to risks and uncertainties that may
cause actual results to differ materially from those expressed.
These risks and uncertainties include those risk factors discussed
in Part I, "Item 1A. Risk Factors" of our Annual Report on Form
10-K for the fiscal year ended June 30, 2014 (the "2014 Annual
Report"), as they may be updated in any future reports filed with
the Securities and Exchange Commission. All forward-looking
statements speak only as of the date of this press release and are
expressly qualified in their entirety by reference to the factors
discussed in the 2014 Annual Report. These risks include: the
success of Broadridge in retaining and selling additional services
to its existing clients and in obtaining new clients; Broadridge's
reliance on a relatively small number of clients, the continued
financial health of those clients, and the continued use by such
clients of Broadridge's services with favorable pricing terms;
changes in laws and regulations affecting Broadridge's clients or
the services provided by Broadridge; declines in participation and
activity in the securities markets; any material breach of
Broadridge security affecting its clients' customer information;
the failure of Broadridge's outsourced data center services
provider to provide the anticipated levels of service; a disaster
or other significant slowdown or failure of Broadridge's systems or
error in the performance of Broadridge's services; overall market
and economic conditions and their impact on the securities markets;
Broadridge's failure to keep pace with changes in technology and
demands of its clients; Broadridge's ability to attract and retain
key personnel; the impact of new acquisitions and divestitures; and
competitive conditions. Broadridge disclaims any obligation to
update or revise forward-looking statements that may be made to
reflect events or circumstances that arise after the date made or
to reflect the occurrence of unanticipated events, other than as
required by law.
Contact Information
Investor Contact:
Brian S.
Shipman, CFA
Broadridge Financial Solutions
+1 516-472-5129
BroadridgeIR@broadridge.com
Media Contacts:
Linda
Namias
Broadridge Financial Solutions
+1
631-254-7711
linda.namias@broadridge.com
Lemuel Brewster
Thomson Reuters
+1 646-223-5147
+1 917-805-1089 (mobile)
lemuel.brewster@thomsonreuters.com
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SOURCE Broadridge Financial Solutions, Inc.