Broadridge (BR) to Acquire Expense Management Provider Bonaire Software

Broadridge Financial Solutions, Inc. (NYSE: BR) announced the signing of an agreement to acquire Bonaire Software Solutions, LLC – a leading 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 leading suite of data-driven solutions for mutual fund, retirement, and asset management firms to help them grow their businesses, operate efficiently and minimize risk.

Bonaire offers three broad, enterprise grade solutions for its clients. REVPORT is a multi-asset, revenue management platform that performs fee billing calculations based on asset performance. PAYPORT is a comprehensive accounts receivables and collections solution designed specifically for the asset management industry. EMPOWER BI is a business intelligence and management information platform that equips CFOs and Controllers to develop critical revenue management reports and dashboard metrics. These capabilities will be complementary fits with Broadridge's Access Data, Paladyne and PROactive™ solutions.

The transaction is expected to close in July, subject to the satisfaction of customary closing conditions. Terms were not disclosed.

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