Products August 17, 2010
Broadridge Announces Agreement to Acquire NewRiver
August 17, 2010 (PLANSPONSOR.com) - Broadridge Financial Solutions, Inc. has signed an agreement to acquire NewRiver, Inc., a provider of electronic investor disclosure solutions, for approximately $77 million.
Reported by PLANSPONSOR staff
The merger agreement has been approved by the Boards of Directors of both companies, and the transaction is expected to close in August subject to customary closing conditions.
According to a press release, NewRiver has been an important supplier to Broadridge for nearly 10 years. The acquisition strengthens Broadridge’s compliance communication capabilities.
NewRiver’s associates, located in Andover, Massachusetts, and New Delhi, India, will become part of Broadridge’s Investor Communication Solutions division.
More about Broadridge is at http://www.broadridge.com.« Nonprofits Considering Outsourced Model for Investment Management