Broadridge Announces Acquisition of Itiviti for over €2 Billion

​Fintech major Broadridge Financial Solutions, Inc. (NYSE: BR) announced Monday that it has reached a deal to acquire Itiviti Holding AB, a world-leading technology provider for the capital markets industry, from Nordic Capital. The transaction was made all in-cash and valued at €2.143 billion. 

The acquisition is subject to customary closing conditions and regulatory approval and is expected to close in the fourth quarter of the fiscal year 2021.

As detailed in the official press release, the fintech will leverage Itiviti’s presence in APAC and EMEA to expand its business outside North America as well as international footprint in key markets.

In addition, the latest acquisition will drive significant value to clients by enabling them to streamline their front-to-back technology stacks, increasing efficiencies, reducing risk and optimizing balance sheet utilization across equities, fixed income, exchange-traded derivatives, and other asset classes. 

Headquartered in Stockholm, Itiviti boasts a large international presence and serves 24 of the top 25 global investment banks and more than 2,000 brokers, trading firms and asset managers across 50 countries. Its blue-chip client base should also provide significant cross-sell opportunities across Broadridge's product portfolio, further enhancing its long-term growth. 

Commenting on this acquisition, Tim Gokey, CEO at Broadridge, remarked, "The acquisition of Itiviti enhances Broadridge’s position as a global Fintech leader. By extending our capabilities into the front office and deepening our multi-asset class solutions, Itiviti significantly strengthens our Capital Markets franchise and better enables Broadridge to help financial institutions adapt to a rapidly evolving marketplace.”

"Joining Broadridge represents an exciting next chapter for our business and team by creating a leading front-to-back capital markets technology and operations provider. The combination of our technology, solutions, and people will unlock significant value for our clients and drive long-term growth for our combined business," added Rob Mackay, CEO of Itiviti.