Broadridge Financial Solutions Inc. announced Tuesday that it has purchased a marketing company based in Massachusetts for an undisclosed amount.
The Lake Success-based processor of investor documents has bought Direxxis LLC, a 12-year-old business that helps investment advisers manage their advertising and marketing activities across multiple offices.
Direxxis, based in Needham, Massachusetts, employs 65 people -- all of whom have been offered jobs at Broadridge.
"Financial advisers are moving from a mass marketing approach to data-driven strategies in which timely content can be tailored and distributed through both traditional and emerging channels," said Richard J. Daly, chief executive at Broadridge.
Direxxis' clients include the Charles Schwab stock brokerage, BlackRock investment house, pet food giant Purina Mills and New York Life insurance.
The announcement was made after the stock market close.