Broadridge Financial Solutions has completed the acquisition of Bonaire Software Solutions, a provider of fee calculation, billing, and revenue and expense management solutions for asset and wealth management firm.
Terms of the transaction were not disclosed.
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Gerard Scavelli, president, mutual funds and retirement solutions group, Broadridge, said: "The addition of Bonaire is a great advancement in our strategy to offer expanded fee and expense management solutions to the financial services industry.
The combined Broadridge and Bonaire solutions will help create the transparency, automation and audit trails that firms need as they respond to increased regulatory scrutiny of fee calculations around the globe," Scavelli added.
Bonaire will operate as part of Broadridge’s mutual fund and retirement solutions group, with current management remaining at the firm and reporting to Scavelli.
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