Broadridge Extends Regulatory Communications Capability for Global Funds, Enters Agreement to Acquire FundsLibrary

NEW YORK and LONDON – Jan. 21, 2020 – Broadridge Financial Solutions, Inc. (NYSE:BR) and FundsLibrary Limited announce that Broadridge has entered into an agreement to acquire FundsLibrary, a leader in fund document and data dissemination in the European market, from its parent company Hargreaves Lansdown. Combining FundsLibrary’s capabilities with Broadridge’s existing regulatory communications offerings will enable Broadridge to significantly reduce complexity and cost for global fund managers, helping them to increase distribution opportunities and meet their regulatory requirements across multiple jurisdictions.

FundsLibrary’s services link fund managers to distributors and investors to provide complete, accurate and timely information supporting fund sales. The solution helps fund managers increase distribution opportunities and comply with both UK domestic and EU regulations such as Solvency II and MiFID II, and makes information easily accessible for investors in digital format. Integrating FundsLibrary’s data platform and technology with Broadridge’s existing fund calculation, translation and document creation capabilities creates an end-to-end solution for fund managers and distributors. This comes at a time where there is growing demand for transparency, operational efficiency and compliant communications in an increasingly competitive and highly regulated environment.

“Today, global fund managers face a real challenge in creating and disseminating compliant marketing and regulatory documents that meet domestic and cross-border requirements throughout the EU and UK,” said Samir Pandiri, president, Broadridge International. “The acquisition is a natural extension of Broadridge’s regulatory communications business and the next step in creating a leading pan-European digital data platform, supporting the lifecycle of fund data, documents, and regulatory reporting for the investment industry.”

“FundsLibrary has had an enviable track record within the investment industry for its breadth, quality and timeliness of fund data solutions,” said Arun Sarwal, CEO of FundsLibrary. “We are excited to be joining forces with Broadridge to enable us to serve our clients across a larger part of their global value chain and to extend our services across multiple geographies.”

The acquisition is subject to the satisfaction of customary closing conditions and is expected to close in mid- to late-February. Grant Thornton UK LLP acted as lead financial advisor to Hargreaves Lansdown plc. Terms of the transaction were not disclosed.

Forward-Looking Statements

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• the success of Broadridge in retaining and selling additional services to its existing clients and in obtaining new clients;
• Broadridge’s reliance on a relatively small number of clients, the continued financial health of those clients, and the continued use by such clients of Broadridge’s services with favorable pricing terms;
• material security breach or cybersecurity attack affecting the information of Broadridge’s clients;
• changes in laws and regulations affecting Broadridge’s clients or the services provided by Broadridge;
• declines in participation and activity in the securities markets;
• the failure of Broadridge's key service providers to provide the anticipated levels of service;
• a disaster or other significant slowdown or failure of Broadridge’s systems or error in the performance of Broadridge’s services;
• overall market and economic conditions and their impact on the securities markets;
• Broadridge’s failure to keep pace with changes in technology and the demands of its clients;
• the ability to attract and retain key personnel;
• the impact of new acquisitions and divestitures; and
• competitive conditions.

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