NEW
YORK and TORONTO,
May 13,
2024 /CNW/ -- Global Fintech leader Broadridge
Financial Solutions, Inc. (NYSE:BR), today announced that it will
acquire Kyndryl's Securities Industry Services (SIS) wealth and
capital markets technology platform. SIS solutions include clearing
and settlement, account record keeping, tax and regulatory
reporting, and integrated order management activities for Canadian
financial services firms. Kyndryl intends to partner with
Broadridge Canada by providing managed services and capabilities to
SIS.
"The partnership with Kyndryl and the acquisition of the
SIS business further underscore Broadridge's long-standing
commitment to being a leading technology provider to Canadian
financial services firms," said Karin
Kirkwood, President of Broadridge Canada. "The combination
of the SIS technology business and Kyndryl managed services with
our industry-leading Broadridge Wealth Platform will further
accelerate our ability to bring innovation to Canada and meet the increasingly complex needs
of Canadian firms."
"Broadridge has been a long-standing partner and this latest
collaboration is a win-win for our Canadian clients," said
Farhaz Thobani, President of Kyndryl
Canada. "Broadridge shares our commitment to drive technology
innovation at scale, making them the right acquirer for the SIS
business and bringing additional innovation to our clients."
The transaction is not expected to have a material impact on
Broadridge's financial results and is expected to close in the
coming months subject to customary closing conditions, including
regulatory approvals. RBC Capital Markets acted as the exclusive
financial advisor to Broadridge on this transaction.
Forward-Looking Statements
This press release and other written or oral statements made
from time to time by representatives of Broadridge may contain
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Statements that are not
historical in nature, and which may be identified by the use of
words such as "expects," "assumes," "projects," "anticipates,"
"estimates," "we believe," "could be," "on track," and other words
of similar meaning, are forward-looking statements.
These statements are based on management's expectations and
assumptions and are subject to risks and uncertainties that may
cause actual results to differ materially from those expressed.
These risks and uncertainties include those risk factors described
and discussed in Part I, "Item 1A. Risk Factors" of our Annual
Report on Form 10-K for the year ended June
30, 2023 (the "2023 Annual Report"), as they may be updated
in any future reports filed with the Securities and Exchange
Commission. All forward-looking statements speak only as of the
date of this press release and are expressly qualified in their
entirety by reference to the factors discussed in the 2023 Annual
Report.
About Broadridge
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 and what we can do for you, please
visit www.broadridge.com.
Broadridge Contact
Information
Investors
broadridgeir@broadridge.com
Media
Gregg.rosenberg@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.