Broadridge Financial Solutions has inked an agreement to acquire Bonaire Software Solutions, a US-based provider of fee calculation, billing, and revenue and expense management solutions provider.
Bonaire develops solution especially for asset managers including institutional asset managers, wealth managers, mutual funds, bank trusts, hedge funds and capital markets firms.
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Broadridge said that move to acquire Bonaire is part of its strategy to build a suite of data-driven solutions for mutual fund, retirement, and asset management firms.
The company has declined from revealing the terms of the deal. Subjected to the completion of customary closing conditions, the transaction is expected to close in July 2013.
Richard Daly, CEO of Broadridge Financial Solutions, said: "Bonaire is a great strategic fit for Broadridge. Its market-leading suite of solutions will extend Broadridge’s offerings for asset managers, wealth managers and mutual funds, while strengthening our platform for the future."
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