Investor services firm Broadridge is set to acquire front-office trading technology provider Itiviti in a €2.14 billion cash transaction.The arrangement will see Broadridge extend further into the front-office and also expand its market share in Europe.

Itiviti, which is owned by private equity firm Nordic Capital, provides front-office trade order and execution management systems and has a number of asset managers and buy-side firms among its client base.

By extending our capabilities into the front office and deepening our multi-asset class solutions, Itiviti significantly strengthens our capital markets franchise,” said Broadridge chief executive, Tim Gokey.

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Source: Funds Europe

By Nicholas Pratt