Monetary know-how firm Broadridge Monetary Options introduced on Thursday that it has acquired a set of regulatory reporting applied sciences from PivotData, a knowledge warehouse firm and supplier of regulatory know-how options to the funding administration business, and it’s companion, Sol Hedge.
In its assertion, Broadridge stated that it could be utilizing the acquired applied sciences to bolster its enterprise amongst personal fund asset managers. As one may think, the know-how might be used to satisfy regulatory necessities which these fund managers should adhere to.
“Our software,” stated Kelli Brown, Head of International Product Growth at Sol Hedge, “was custom-built to excel at regulatory reporting and we look ahead to scaling with the assistance of Broadridge’s deep product experience and worldwide attain.”
Sadly for us nosy hacks, Broadridge didn’t disclose the phrases of the deal. So strive to not keep awake at night time, tossing and turning, questioning simply how astronomical a sum the corporate paid for its latest acquisition.
PivotData’s options might be added to Broadridge’s present reporting options. Presently, the know-how firm presents a variety of various reporting capabilities, together with the power to calculate what data must be submitted and truly sending it to the right regulatory authority.
“This acquisition is a pure addition to our quickly increasing know-how and companies platform for asset managers,” stated Eric Bernstein, Broadridge’s Head of Asset Administration Options. “Regulatory reporting is a infamous battle throughout the asset administration business, and PivotData and Sol Hedge’s business experience will assist our present and potential Broadridge purchasers meet their present necessities and be prepared for what’s subsequent.”