Broadridge finalises takeover of fund data provider FundsLibrary

Broadridge Financial Solutions has wrapped up the acquisition of FundsLibrary, which focuses on fund document and data dissemination.

The deal integrates FundsLibrary with Broadridge’s existing European funds regulatory communications arm, FundAssist.

FundsLibrary’s technology is designed to facilitate Solvency II and MiFID II compliance for fund managers and boost their distribution opportunities.

The technology has now been combined with fund calculation, document creation as well as translation abilities of Broadridge.

The merged group will trade as Broadridge Fund Communication Solutions. FundsLibrary CEO Arun Sarwal will be in charge of this group.

Financial terms of the transaction,  announced this January, were not disclosed.

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Sarwal noted: “I am delighted to lead this exciting fund data and regulatory communications business for Broadridge as we expand and grow our footprint in international markets.

“This combined business will enable Broadridge clients to utilise a single provider for the creation and dissemination of fund marketing and regulatory documents so they can increase distribution opportunities and meet the demanding standards of regulation.”

Broadridge has snapped up several businesses lately.

Some of its recent acquisitions are Fi360, ClearStructure Financial Technology, Financial Database ServicesNorthern Trust’s blockchain-based private equity asset servicing platformRPM Technologies, and Rockall.

Broadridge recently also acquired certain technology solutions from PivotData, and its partner Sol Hedge.

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