Broadridge Completes Acquisition of DST’s North American Customer Communications Business
July 01 2016 - 7:00AM
Broadridge Financial Solutions, Inc. (NYSE:BR) today announced it
has completed its previously-announced acquisition of the North
American Customer Communications (“NACC”) business of DST Systems,
Inc. (NSYE:DST) for $410 million in cash, subject to post-closing
adjustments.
The NACC business will be renamed Broadridge Customer
Communications and integrated into Broadridge’s Investor
Communication Solutions segment. The combination creates North
America’s premier customer communications technology platform for
print and digital, further enhancing Broadridge’s position as a
leading provider of multi-channel communications.
About BroadridgeBroadridge Financial Solutions,
Inc. (NYSE:BR) is the leading provider of investor communications
and technology-driven solutions for broker-dealers, banks, mutual
funds and other corporations. Broadridge's investor and customer
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 more than 9,000 full-time associates in
14 countries.
Forward-Looking StatementsThis 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.
Contact Information
Investors:
Edings Thibault
Head of Investor Relations
(516) 472-5129
edings.thibault@broadridge.com
Media:
Kate McGann
Director, Corporate Communications
(212) 981-1395
katherine.mcgann@broadridge.com
Broadridge Financial Sol... (NYSE:BR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Broadridge Financial Sol... (NYSE:BR)
Historical Stock Chart
From Jul 2023 to Jul 2024