LAKE SUCCESS, N.Y., July 17, 2013 /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE:BR) today announced the closing of its acquisition of Bonaire Software Solutions, LLC – a leading provider of fee calculation, billing, and revenue and expense management solutions for asset managers including institutional asset managers, wealth managers, mutual funds, bank trusts, hedge funds and capital markets firms. Terms of the transaction were not disclosed.
"The addition of Bonaire is a great advancement in our strategy to offer expanded fee and expense management solutions to the financial services industry," said Gerard Scavelli, President, Mutual Funds and Retirement Solutions Group, Broadridge. "The combined Broadridge and Bonaire solutions will help create the transparency, automation and audit trails that firms need as they respond to increased regulatory scrutiny of fee calculations around the globe."
Bonaire will operate as part of Broadridge's mutual fund and retirement solutions group, with current management remaining at the firm and reporting to Mr. Scavelli.
About BroadridgeBroadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally. Broadridge's investor communications, securities processing and operations outsourcing solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With 50 years of experience, Broadridge's infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America, and processes more than $4.5 trillion in fixed income and equity trades per day. Broadridge employs approximately 6,200 full-time associates in 13 countries. For more information about Broadridge, please visit broadridge.com. About Bonaire Software Solutions, LLC Bonaire Software Solutions, LLC., based in Boston, MA, and London, UK, is a privately held company founded in 1999. Bonaire is focused on providing Revenue and Expense Management software and services solutions to investment managers, mutual funds, wealth managers, banks/trusts and capital markets firms. Bonaire's principal product lines are REVPORT – a revenue and expense management platform that performs fee billing and expense calculations, PAYPORT – for receivables management and collections with payment matching, and EMPOWER BI – a business intelligence & management information platform. For more information about Bonaire Software Solutions, visit bonairesoft.com. Contact Information Investors: David NgBroadridge Financial Solutions, Inc. (516) 472-5491 firstname.lastname@example.org Media Contact:Linda Namias Broadridge Financial Solutions, Inc. (631) 254-7711 email@example.com SOURCE Broadridge Financial Solutions, Inc.