LAKE SUCCESS, N.Y.,
Nov. 11, 2015 /PRNewswire/
-- Broadridge Financial Solutions, Inc. (NYSE:BR) has acquired
privately-held investment accounting solutions provider QED
Financial Systems, Inc. QED provides software-based investment
accounting solutions, data management and outsourced investment
accounting services to more than 40 institutional investors and
asset managers who together have more than $1.5 trillion in assets under management. Terms
of the transaction were not disclosed.
QED strongly complements the front and back office solutions
that Broadridge currently provides to the global asset management
community including; portfolio management, data and analytics,
revenue and expense management, trade processing and shareholder
communication solutions. "Incorporating this expertise aligns with
our strategy to provide best-of-breed solutions for the asset
management space," said President of Broadridge's Mutual Fund and
Retirement Solutions division Michael
Liberatore.
Broadridge's head of Revenue and Expense Management Solutions
Christopher John commented, "We're pleased to welcome the QED team
to Broadridge. Investment accounting is a critically important core
function for asset management firms, and the combined Broadridge
and QED capabilities will provide a new level of efficiency and
value for our clients and the industry."
"For over 25 years, our team has built its reputation by
delivering the very best in accounting solutions tailored to the
needs of our specialized client base," said QED founder
Joe Potesta. "We're excited to be
joining Broadridge, where we'll have access to greater resources,
deep expertise in hosting and managed services and extensive
distribution capabilities. We look forward to delivering an
enhanced suite of services for the asset management industry."
Founded in 1987, QED Financial Systems is based in Marlton, New Jersey and has 47 associates.
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 managed services 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 on
average $5 trillion in equity and
fixed income trades per day. Broadridge employs approximately 7,400
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, 2015 (the "2015 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 2015
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.
Investor Contact:
Brian S.
Shipman, CFA
Broadridge Financial Solutions
+1 516-472-5129
BroadridgeIR@broadridge.com
Media Contacts:
Maggie
Nolan
Brainerd Communicators, Inc.
+1
212-986-6667
nolan@braincomm.com
Linda
Namias
Broadridge Financial Solutions
+1
631-254-7711
linda.namias@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.