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Broadridge Closes Acquisition of FundsLibrary from Hargreaves Lansdown
Friday 06 March 2020

6 March 2020 - US fintech company Broadridge Financial Solutions, Inc. (NYSE: BR) has closed the acquisition of UK-based FundsLibrary Ltd., a fund document and data dissemination provider from Hargreaves Lansdown to help asset managers meet UK and EU regulatory requirements, the company said.

Combining FundsLibrary's capabilities with Broadridge's existing regulatory communications offerings will enable Broadridge to significantly reduce complexity and cost for global fund managers, helping them to increase distribution opportunities and meet their regulatory requirements across multiple jurisdictions.

FundsLibrary's services link fund managers to distributors and investors to provide complete, accurate and timely information supporting fund sales.

The solution helps fund managers increase distribution opportunities and comply with both UK domestic and EU regulations. Integrating FundsLibrary's data platform and technology with Broadridge's existing fund calculation, translation and document creation capabilities creates an end-to-end solution for fund managers and distributors.

Grant Thornton UK LLP acted as lead financial advisor to Hargreaves Lansdown plc. Terms of the transaction were not disclosed.

Broadridge Financial Solutions, Inc. (NYSE: BR) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, asset and wealth managers and corporate issuers.

FundsLibrary is a digital platform supporting the life cycle of fund data, documents and regulatory reporting for the Asset Management industry.
Details
Date Published: 06/03/2020
Target: FundsLibrary Ltd
Country: UK
Sector: Banking/Financial Services
Type: Corporate acquisition
Financing:
Status: Closed
Vendor: Hargreaves Lansdown
Buyer: Broadridge Financial Solutions
Comment:
Terms of the deal were not disclosed

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