Broadridge Financial Solutions Acquires Cloud-Based ECS Assets From Jordan & Jordan

Fintech company Broadridge Financial Solutions Inc (NYSE: BR) acquired cloud-based Execution Compliance and Surveillance Service (ECS) assets from Jordan & Jordan to drive its regulatory compliance capabilities for broker-dealers.
The financial terms of the transaction remain undisclosed.
The solution provides a combination of surveillance and regulatory reporting and compliance consulting capabilities for U.S. regulations.
The tuck-in acquisition provided a natural extension of Broadridge's reporting and compliance capabilities for pre and post-execution activities for the U.S. market. It underlined Broadridge's commitment to expanding capital markets offerings to clients.
Broadridge held $355.8 million in cash and equivalents as of March 31, 2021.
Price action: BR shares closed lower by 0.32% at $161.53 on Wednesday.