Investor communications company Broadridge Financial Solutions has entered into an agreement with Thomson Reuters Lipper to acquire its Fiduciary Services and Competitive Intelligence unit.
Terms of the agreement were not disclosed. The deal is expected to close in Broadridge's fourth fiscal quarter.
Broadridge framed the announcement around its long term enterprise data, analytics and research growth strategy. The company provides its clients operations solutions for business and securities processing.
Thomson Reuters Fiduciary Services and Competitive Intelligence business provides global market intelligence for fund industry flows by country and distribution channel. It also provides 15(c) advisory contract renewal services for validating and benchmarking fee and expense agreements to more than 250 mutual fund families.
Broadridge's agreement with Thomson Reuters also includes a long-term content and brand licensing services agreement in which Thomson Reuters Lipper will provide Broadridge with data on investment product classifications, pricing, performance, benchmarking, product asset positions, and product flows, ensuring continuity of underlying content and methodology.
This deal would allow Broadridge to integrate Thomson Reuters Lipper's market intelligence and data into its mutual fund and retirement business and expand its suite of market intelligence solutions. Its existing compliance and reporting tools cover 90% of U.S. long-term mutual fund assets and 95% of ETF assets.