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Broadridge Financial acquires London-based data company

Broadridge Financial Solutions Inc. processes investor documents at

Broadridge Financial Solutions Inc. processes investor documents at this center in Edgewood. Credit: Newsday / Alejandra Villa

Broadridge Financial Solutions Inc. announced Tuesday that it has purchased a British data company for an undisclosed amount.

The Lake Success-based distributor of proxy statements, annual reports and other documents to shareholders of public companies has bought Spence Johnson Ltd. of London.

The move comes less than a month after Broadridge announced a “strategic alliance” with Spence to provide clients with access to more data.

Broadridge maintains information on more than 82,000 mutual funds and exchange-traded funds, while Spence tracks over $7 trillion in investments by pension funds and other institutions.

“This acquisition is another step in Broadridge’s strategy to provide our asset management clients with leading data solutions and market intelligence on a global basis,” said Dan Cwenar, president of Broadridge’s data and analytics division.

Magnus Spence, co-founder and CEO of Spence Johnson, said, “Our combined data and analytics will better enable us to provide our clients with the data and insights needed to identify growth opportunities.”

Spence and other key leaders of Spence Johnson plan to remain with Broadridge, according to a Broadridge spokesman, who also noted the Spence Johnson offices in London, Singapore and Boston will remain open.

Spence has a workforce of 25 people. The spokesman declined to disclose the company’s annual revenue.

Broadridge, one of Long Island’s largest public companies, reported a profit of $307 million for the year ended June 30, 2016, on revenue of $2.9 billion.

The company has about 2,000 workers locally at the corporate office in Lake Success and a processing operation in Edgewood.

Broadridge shares closed down 25 cents, or 0.33 percent, to $74.52 on the New York Stock Exchange Tuesday.


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