Broadridge Financial Solutions has acquired Access Data Corp. to expand its offerings to the mutual fund industry, specifically Access Datas unique data aggregation and data management solutions. Terms of the deal were not disclosed.
Broadridge officials said they believe Access Datas data aggregation will provide significant value to mutual funds and financial intermediaries. The only offering of its kind, Access Datas SalesVision platform analyzes distribution, and manages wholesaler compensation and shareholder compliance.
Access Datas unique technology adds a new dimension to our servicing capabilities and is the foundation of our strategy of offering innovative and comprehensive data solutions to the global financial services industry, said Gerard Scavelli, president of mutual fund solutions at Broadridge. Efficiently increasing assets under management and diminishing risk are paramount for firms to remain competitive and integral to their ongoing growth strategies.
Richard J. Daly, CEO of Broadridge, added: The highly skilled Access Data associates pioneered mission-critical solutions that provide transparency of comprehensive mutual fund sales and asset data. Together under the Broadridge umbrella, we can grow to achieve the same pinnacle of industry leadership as we have with our core communications solutions.