Broadridge To Acquire Bonaire

Broadridge Financial Solutions has agreed to acquire Bonaire Software Solutions, a provider of fee calculation, billing, and revenue and expense management solutions for asset managers. The addition of Bonaire is another step in Broadridge’s strategy to build a suite of data-driven solutions for mutual fund, retirement and asset management firms.

Christopher John, CEO of Bonaire Software Solutions, said: “We enjoy complementary market and client linkages, with aligned products that build off each other’s strengths. Broadridge is uniquely positioned to accelerate the adoption of our fee calculation engines.”

Gerard Scavelli, Broadridge’s president of Mutual Funds and Retirement Solutions Group, commented: “This acquisition addresses a growing global market need for innovative solutions to meet increased regulatory and compliance demands at a critical time when scrutiny of fees is rising. Regulations are evolving and there is a heightened level of risk for firms that are using manual processes or combining point solutions from multiple vendors to process today’s complex fee arrangements. Our solutions help to create the transparency firms need for accurate forecasting, ROI analysis and defined processes for managing and auditing fee arrangements.”