Broadridge Completes Acquisition of Technology Provider Itiviti

Fazzaco learned that fintech major Broadridge Financial Solutions, Inc. (NYSE: BR) had closed on its acquisition of Itiviti Holding AB (Itiviti), a world-leading technology provider for the capital markets industry.

Back to 29 March 2021, the company has reached a deal to acquire Itiviti from Nordic Capital. The transaction was said to be made all in-cash and valued at €2.143 billion. 

According to the official press release, with the latest acquisition, Broadridge is well-positioned in the fintech industry and further strengthens its Capital Markets franchise. In addition, the transaction also extends Broadridge’s market leading back office capabilities into the front office and deepens its multi-asset class solutions, better enabling the company to help financial institutions adapt to a rapidly evolving marketplace. 

The company will leverage Itiviti’s footprint in APAC and EMEA to expand its presence outside of North America in a bid to offer better experience for global client base.

Itiviti will join Broadridge’s Global Technology and Operations segment and its senior management team, led by CEO Rob Mackay, will remain with the company to drive future growth.

As Fazzaco reported earlier, Broadridge has announced its partnership with RegTech provider FundApp​s to integrate Broadridge's buy-side portfolio and order management solution with FundApps' regulatory compliance technology.