Broadridge Acquires Paladyne Systems for $76.5 Million

In a move to expand sales on the buy-side, Broadridge Financial Solutions is acquiring Paladyne Systems, a provider of solutions to global multi-asset class investment managers, for about $76.5 million, according to today’s announcement.

“The acquisition of Paladyne will significantly expand Broadridge’s position as a service provider to buy-side clients,” stated Richard J. Daly, CEO , Broadridge,. He noted, “Buy-side firms purchase nearly 40 percent of capital markets technology and services and represent a segment of virtually untapped opportunity for Broadridge," continued Daly. "Paladyne will serve as the foundation for the expansion of Broadridge’s buy-side offering, enabling us to bring Paladyne’s unique solutions to hedge funds, our existing prime brokerage clients, asset managers, hedge fund administrators and other asset servicers.”

According to Sameer Shalaby, Paladyne’s CEO, commenting in the relaase, “Broadridge’s extensive reach in the global financial services community and global sales and distribution capabilities will enable Paladyne to expand significantly into new and existing market segments.”

Paladyne’s integrated front-, middle- and back-office platform includes multi-asset class order and portfolio management tools; reference data, pricing and valuation management applications; and data warehousing for firm-wide data aggregation and reporting. Paladyne combines its technology with a fully-hosted, managed IT platform.

Commenting further, Charlie Marchesani, president, Securities Processing Solutions, Broadridge, said the company is uniquely positioned to offer technology and outsourcing services to the hedge fund, asset management, fund administration, prime brokerage and custodial industry segments.

“The trust Broadridge has earned with our sell-side relationships and the neutral and independent role we hold in the industry will position us for success on the buy side,” stated Marchesani.

Based in Lake Success, New York, Broadridge is a technology services company (spun off from ADP) that processes more than $4 trillion in fixed income and equity trades per day and provides the infrastructure that underpins proxy services for 90 percent of public companies and mutual funds in North America.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio