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LAKE SUCCESS, N.Y., June 5, 2015 – 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.
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, such as our fiscal year 2011 financial guidance, and which may be identified by the use of words like “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, 2010 (the “2010 Annual Report”), as they may be updated in any future reports filed with the Securities and Exchange Commission. Any forward-looking statements are qualified in their entirety by reference to the factors discussed in the 2010 Annual Report. These risks include: the success of Broadridge in retaining and selling additional services to its existing clients and in obtaining new clients; the pricing of Broadridge’s products and services; changes in laws and regulations affecting the investor communication services provided by Broadridge; declines in participation and activity in the securities markets; overall market and economic conditions and their impact on 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; any significant slowdown or failure of Broadridge’s systems or error in the performance of Broadridge’s services; 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 any forward-looking statements, whether as a result of new information, future events or otherwise.