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Broadridge extends capital markets franchise with Itiviti acquisition



Global fintech firm, Broadridge Financial Solutions, Inc., has announced that it has completed its acquisition of trading and connectivity provider, Itiviti Holding AB. They first announced plans for the acquisition towards the end of March this year, where it paid $2.5 billion to secure the deal with the former owner of Itiviti, Nordic Capital. The acquisition has gone through in the hope that it will enhance Broadridge’s standing as a Fintech leader globally, as it continues to work towards significantly strengthening its Capital Markets franchise.

Itiviti, which is known for providing its trading technology to the capital markets industry, is based in Stockholm and boasts a far-reaching presence within international trading markets. The company is also recognised for its NYFIX network, which provides both buy-side and sell-side trading clients with OMS services.

The official announcement from Broadridge stated:

Itiviti’s solutions and services provide financial institutions with comprehensive tools for connectivity and flexible, cross-asset trading solutions that cover the full trade lifecycle.

Acquisition

The newly acquired firm is set to merge into Broadridge’s Global Technology and Operations section. Fronted by CEO Rob Mackay, it has also been reported that its senior management team will remain with the company to pioneer growth in the near future. Itiviti currently boasts offices in 16 countries worldwide, serving 24 of the most significant 25 global investment banks. It also serves around 2,000 prominent asset managers, brokers, and trading firms, of which can be located across 50 separate countries.

With the final closure of this significant acquisition deal, Broadridge aims to zone in on the global fintech market. The firm has even specified its hope that Itiviti’s influence in APAC and EMEA regions will be a key factor in helping Broadridge scale its presence outside of the bounds of North America.

The official press release added:

The acquisition enhances Broadridge’s position as a global Fintech leader and significantly strengthens Broadridge’s Capital Markets franchise. It 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.

Broadridge Financial Solutions, Inc. recently announced its collaboration with international RegTech provider FundApps to integrate its order management solution and buy-side portfolio with regulatory compliance technology.

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Broadridge extends capital markets franchise with Itiviti acquisition

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