Broadridge Financial Solutions, Inc.NYSE
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  • Tue, Jun. 14, 1:24 PM
    • Broadridge Financial (BR +1.8%) announced earlier that it agreed to acquire the North American customer communications business from DST Systems (DST +0.4%) for $410M.
    • The NACC business - the largest transactional printer in North America - generated $1.1B in revenue for Kansas City-based DST, or ~40% of the company's annual revenue.
    • BR expects the deal to be immediately accretive to earnings, and expects to achieve ~$20M in annualized cost synergies within 18-30 months of closing.
    | Tue, Jun. 14, 1:24 PM
  • Jun. 5, 2015, 11:53 AM
    • Thomson Reuters (TRI -0.8%) has wrapped a sale of its Fiduciary Services and Competitive Intelligence unit to Broadridge Financial Solutions (BR -0.2%), a deal announced two weeks ago.
    • As planned, the two will enter into an arrangement where Thomson Reuters Lipper will supply data on "investment product classifications, pricing, performance, benchmarking, product asset positions, and product flows."
    • TRI's personnel in Denver, London and Gdynia, Poland, will join Broadridge, which will integrate them into its Mutual Fund and Retirement Solutions Group.
    | Jun. 5, 2015, 11:53 AM
  • May 21, 2015, 12:15 PM
    • Thomson Reuters (TRI +0.5%) has agreed to sell its Fiduciary Services and Competitive Intelligence division to Broadridge Financial Solutions (BR -0.4%).
    • The unit was part of the Thomson Reuters Lipper business. The deal also includes long-term licensing of Thomson Reuters data.
    • The division provides information on fund industry flows by country and distribution channel. Broadridge will integrate it into its mutual fund and retirement business.
    • The deal is expected to close during Broadridge's fiscal Q4 (ending in June).
    | May 21, 2015, 12:15 PM