Broadridge completes Thomson Reuters data deal
08 June 2015 New York
Image: Shutterstock Broadridge Financial Solutions has completed the acquisition of the fiduciary services and competitive intelligence unit from the Lipper division of Thomson Reuters division.
The terms of the transaction were undisclosed.
The acquisition expands Broadridge’s data and analytics solutions for mutual fund manufacturers, exchange-traded fund issuers, and fund administrators, adding new global data and research capabilities.
Broadridge and Thomson Reuters Lipper have also entered into a long term content and brand licensing services agreement.
Under the deal, 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.
Gerard Scavelli, president of Broadridge’s mutual funds and retirement solutions group, commented: “Adding these solutions to our mutual fund and retirement business provides our clients and the industry with a compliance oversight, fee benchmarking and competitive intelligence solutions.”
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