Broadridge Financial Solutions, Inc. (NYSE:BR), a provider of business intelligence for the asset management community, today announced the next stage of its growth strategy with the acquisition of the institutional data specialist, Spence Johnson. The acquisition further cements Broadridge’s credentials in the asset management space and enables the company to expand its coverage to include institutional investors.
The deal brings together retail and institutional data, benchmarking and analytics solutions through leveraging Broadridge’s retail fund data and analytics with Spence Johnson’s institutional market intelligence and insights. As such, it enables the combined offering to become the industry’s one-stop shop for data and insights whilst expanding Broadridge’s portfolio to provide clients with a holistic global market view which enhances identification and analysis of growth opportunities.
Global Market Intelligence, Broadridge’s flagship platform that delivers information on more than 80,000 retail mutual funds and ETFs, will now be expanded to include Spence Johnson’s Money in Motion dataset that provides analytics on institutional assets, flows and sales, tracking over $7 trillion in institutional flow.
Commenting on the acquisition, Dan Cwenar, President of Broadridge Data and Analytics, said: “This acquisition is another step in Broadridge’s strategy to provide our asset management clients with leading data solutions and market intelligence on a global basis.”
Stephanie Clarke, Senior VP of Broadridge’s Global Market Intelligence business, added: “Combining Broadridge’s and Spence Johnson’s powerful data and analytics solutions will position Broadridge to provide our clients the ability to perform complete cross channel analysis, enabling unique geographic, market and product views. The ability to measure and benchmark the market by geography, channel and product will be a significant advancement in asset management industry data, analytics and insight.”