Finance Breaking news Broadridge to acquire Itiviti for $2.5 billion cash last financial news
Breaking-Finance.Com - Broadridge is to acquire front office trading technology firm Itiviti in an all-cash transaction valued at $2.5 billion from Nordic Capital.
Breaking-Finance.Com - Broadridge is to acquire front office trading technology firm Itiviti in an all-cash transaction valued at $2.5 billion from Nordic Capital. With a focus on front-office trade order and execution management systems, FIX connectivity and network offerings, Itiviti serves 24 of the top 25 global investment banks and over 2000 brokers, trading firms and asset managers across 50 countries. The firm generated recurring revenues of approximately €210 million in calendar year 2020.The acquistion fulfills a number of long-held onbjectives for Broadridge, providing a foothold in the front office and European markets as well as significant cross-sell opportunities.
. Itiviti’s well-developed footprint in Apac and Emea will increase our scale outside North America and strengthen our ability to serve our global clients.Upon closing, Itiviti will become part of Broadridge’s Global Technology and Operations segment and its senior management team, led by CEO Rob Mackay, will remain with the company.Broadridge is financing the acquisition through a new $2.55 billion term credit agreement.
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