Broadridge Financial Solutions buys British company
Broadridge Financial Solutions' printing and processing center in Edgewood is seen on Wednesday, May 9, 2012. Credit: Newsday / Alejandra Villa
Broadridge Financial Solutions Inc. announced Thursday the purchase of a British software company that aids investment banks and funds in complying with financial regulations such as the Dodd-Frank Act.
Lake Success-based Broadridge has acquired Message Automation Ltd. of London for an undisclosed amount.
Broadridge distributes proxy statements, annual reports and other documents to investors on behalf of public companies and processes financial transactions for banks and others. It maintains a large printing and process center in Edgewood, where about 2,000 people work.
“The addition of Message Automation will enhance our ability to help companies to reduce risk and enhance compliance while improving operational efficiency,” said Charles Marchesani, president of Broadridge’s global technology and operations division. “This is the third acquisition related to broadening our post-trade and data analytics capabilities.”
Message, begun in 2003, has about 25 workers in London’s financial district. They will become part of Broadridge, according to Broadridge spokesman Gregg L. Rosenberg.
Message CEO and co-founder Hugh Daly said, “We look forward to leveraging Broadridge’s scale and relationships to help accelerate industry transformation through our post-trade control solutions.” He is not related to Broadridge CEO Richard J. Daly.
Broadridge shares rose 34 cents to close at $68.62 on Thursday in New York Stock Exchange trading. In the past 12 months, the shares are up 19 percent.
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