Broadridge to Acquire Bonaire

LAKE SUCCESS, N.Y., June 26, 2013 – Broadridge Financial Solutions, Inc. (NYSE:BR) today announced the signing of an agreement to acquire 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. The addition of Bonaire is another step in Broadridge’s strategy to build a leading suite of data-driven solutions for mutual fund, retirement, and asset management firms to help them grow their businesses, operate efficiently and minimize risk.

“Bonaire is a great strategic fit for Broadridge. Its market-leading suite of solutions will extend Broadridge’s offerings for asset managers, wealth managers and mutual funds, while strengthening our platform for the future,” stated Richard J. Daly, Chief Executive Officer, Broadridge Financial Solutions, Inc. “Broadridge will help Bonaire enhance its strong track record of growth by leveraging our client relationships and technology solutions in the U.S. and globally.”

“After careful review, we concluded that Broadridge is simply the best possible fit for Bonaire,” said Christopher John, Chief Executive Officer, Bonaire Software Solutions, LLC. “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. Joining Broadridge will strengthen Bonaire’s client service and sales, and its global footprint will help broaden our combined breadth of product applications to new geographies and clients.”

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.”

The acquisition of Bonaire will expand Broadridge’s industry-leading offering for fee and expense management. “We will be uniting complementary businesses, cultures and product suites. Combining the Bonaire team’s years of experience understanding the needs of and developing solutions for the market with the broad reach of Broadridge’s integrated sales teams will accelerate Bonaire’s growth potential. More importantly, it is a combination that delivers strong added value for clients,” added Mr. Scavelli.

Bonaire offers three broad, enterprise grade solutions for its clients. REVPORT is a multi-asset, revenue management platform that performs fee billing calculations based on asset performance. PAYPORT is a comprehensive accounts receivables and collections solution designed specifically for the asset management industry. EMPOWER BI is a business intelligence and management information platform that equips CFOs and Controllers to develop critical revenue management reports and dashboard metrics. These capabilities will be complementary fits with Broadridge’s Access Data, Paladyne and PROactive™ solutions.

The transaction is expected to close in July, subject to the satisfaction of customary closing conditions.

Terms were not disclosed.

Bonaire was advised by Raymond James & Associates.