- Fintech company Broadridge Financial Solutions Inc BR acquired cloud-based Execution Compliance and Surveillance Service (ECS) assets from Jordan & Jordan to drive its regulatory compliance capabilities for broker-dealers.
- The financial terms of the transaction remain undisclosed.
- The solution provides a combination of surveillance and regulatory reporting and compliance consulting capabilities for U.S. regulations.
- The tuck-in acquisition provided a natural extension of Broadridge's reporting and compliance capabilities for pre and post-execution activities for the U.S. market. It underlined Broadridge's commitment to expanding capital markets offerings to clients.
- Broadridge held $355.8 million in cash and equivalents as of March 31, 2021.
- Price action: BR shares closed lower by 0.32% at $161.53 on Wednesday.
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