Broadridge Financial Solutions has finalised the acquisition of fintech firm Itiviti, which provides trading and connectivity technology to the capital markets industry.
Financial terms of the transaction were not made public.
Itiviti has offices in 16 countries and serves 24 investment banks and more than 2,000 brokers, trading firms and asset managers in 50 countries.
The services provided by the firm offers financial institutions with comprehensive tools for connectivity. It also provides cross-asset trading solutions covering the full trade lifecycle.
The addition of Itiviti will fortify Broadridge’s Capital Markets franchise.
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It extends the company’s back office capabilities into the front office and enhances its multi-asset class solutions, better enabling it to help financial institutions adapt to a changing marketplace.
Furthermore, the deal bolsters Broadridge’s presence in APAC and EMEA and positions it to better serve global clients.
Itiviti will now become part of Broadridge’s Global Technology and Operations segment.
Itiviti’s CEO Rob Mackay and its senior management team will remain with the business.
Recent deals by Broadridge
In March this year, Broadridge wrapped up the acquisition of FundsLibrary, which focuses on fund document and data dissemination.
In November 2019, the company expanded its asset management technology suite with the acquisition of ClearStructure Financial Technology, a provider of portfolio management solutions for the private debt markets.
The same year, the US-based fintech purchased wealth management technology provider Financial Database Services in an effort to strengthen its adviser compensation management capabilities.