Broadridge Financial Solutions (BR), a provider of investor communications and technology solutions to financial services firms, said Thursday it signed an agreement to acquire the Fiduciary Services and Competitive Intelligence unit from Thomson Reuters (TRI).
The agreement also includes a long-term content and brand licensing agreement in which Thomson Reuters Lipper will supply data on investment product classifications, pricing, performance, benchmarking, product asset options, among others. Financial terms of the agreement were not disclosed.
Thomson Reuters’ Fiduciary Services and Competitive Intelligence business provides global market intelligence for fund industry flows by country and distribution channel. Its acquisition will expand Broadridge’s enterprise data and analytics solutions by adding new global data and research capabilities.
In recent morning trade, BR was down 0.5%, near the high end of the 52-week range of $38.28 – $55.78; while TRI was 0.5% higher, above the midpoint of the 52-week range of $34.07 – $42.64.