Broadridge Financial Solutions is to acquire Bonaire Software Solutions, a provider of fee calculation, billing and revenue and expense management solutions for asset managers including institutional asset managers, wealth managers, mutual funds, bank trusts, hedge funds and capital markets firms.
The addition of Bonaire is another step in Broadridge's strategy to build a suite of data-driven solutions for mutual fund, retirement and asset management firms to help them grow their businesses, operate efficiently and minimise risk.
"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," says Richard J Daly, chief executive officer, Broadridge Financial Solutions. "Broadridge will help Bonaire enhance its strong track record of growth by leveraging our client relationships and technology solutions in the US and globally."
"After careful review, we concluded that Broadridge is simply the best possible fit for Bonaire," says Christopher John, chief executive officer, Bonaire Software Solutions. "We enjoy complementary market and client linkages, with aligned products that build off each other's strengths. Broadridge is uniquely positioned to accelerate the adoption of our fee calculation engines. Joining Broadridge will strengthen Bonaire's client service and sales, and its global footprint will help broaden our combined breadth of product applications to new geographies and clients."