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Fintech firm Broadridge to acquire trading technology provider Itiviti for over €2 billion



Fintech firm Broadridge Financial Solutions, Inc. today announced the acquisition of Itiviti, a provider of trading and connectivity technology to the capital markets industry, from Nordic Capital.

Broadridge and Itiviti have signed a definitive agreement for all-cash transaction. The deal is valued at €2.143 billion (approximately $2.5 billion).

The acquisition is expected to close in the fourth quarter of the fiscal year 2021.

Headquartered in Stockholm, Itiviti has offices in 16 countries and serves 24 of the top 25 global investment banks and more than 2,000 brokers, trading firms and asset managers across 50 countries. The company’s Trading and Connect solutions suite provides comprehensive tools to support both connectivity and adaptivity to changing market dynamics and regulatory demands.

acquisition

Tim Gokey, Broadridge’s Chief Executive Officer commented:

Tim Gokey, Broadbridge
Tim Gokey
Source: LinkedIn

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. Itiviti’s well-developed footprint in APAC and EMEA will increase our scale outside North America and strengthen our ability to serve our global clients.

Itiviti CEO Rob Mackay stated:

Rob Mackay, Itiviti
Rob Mackay
Source: LinkedIn

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.

Broadridge expects that Itiviti’s presence in APAC and EMEA will help the company expand its business outside North America.


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Fintech firm Broadridge to acquire trading technology provider Itiviti for over €2 billion

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