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LAKE SUCCESS, N.Y., July 17, 2013 – Broadridge Financial Solutions, Inc. (NYSE:BR) today announced the closing of its acquisition of Bonaire Software Solutions, LLC – a leading provider of fee calculation, billing, and revenue and expense management solutions for asset managers including institutional asset managers, wealth managers, mutual funds, bank trusts, hedge funds and capital markets firms. Terms of the transaction were not disclosed.
“The addition of Bonaire is a great advancement in our strategy to offer expanded fee and expense management solutions to the financial services industry,” said Gerard Scavelli, President, Mutual Funds and Retirement Solutions Group, Broadridge. “The combined Broadridge and Bonaire solutions will help create the transparency, automation and audit trails that firms need as they respond to increased regulatory scrutiny of fee calculations around the globe.”
Bonaire will operate as part of Broadridge’s mutual fund and retirement solutions group, with current management remaining at the firm and reporting to Mr. Scavelli.
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with more than $6 billion in revenues, provides the critical infrastructure that powers investing, corporate governance and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge’s infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than U.S. $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.
For more information about us, please visit www.broadridge.com.
Bonaire, a Broadridge company, delivers leading expertise in solving revenue and expense management challenges, providing unprecedented control and transparency to the finance department. Its core capabilities enable investment managers, wealth managers, mutual funds and capital markets firms to effectively perform complex calculations including but not limited to: revenue accruals and invoicing, distributor and advisor payouts, commissions and expense allocations. Bonaire became a Broadridge company in 2013. For more information please visit www.bonairesoft.com.
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