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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, Inc. (NYSE: BR), a $4.5 billion global Fintech leader, is a leading provider of investor communications and technology-driven solutions to banks, broker-dealers, asset and wealth managers and corporate issuers. Broadridge's infrastructure underpins proxy voting services for over 50 percent of public companies and mutual funds globally, and processes on average more than U.S. $10 trillion in fixed income and equity securities trades per day. Broadridge is part of the S&P 500® Index and employs over 12,000 associates in 17 countries.
For more information about Broadridge, 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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