Broadridge To Buy Thomson's Fiduciary Services, Competitive Intelligence Unit

(RTTNews) - Broadridge Financial Solutions Inc (BR) on Thursday said it has agreed with Thomson Reuters (TRI, TRI.TO) to buy the Fiduciary Services and Competitive Intelligence unit from Thomson Reuters Lipper. The financial terms of the deal were not disclosed.

Broadridge said the deal would significantly expand its mutual fund data and reporting solutions globally.

The deal is expected to close in Broadridge's fourth fiscal quarter.

Broadridge said its deal with Thomson Reuters also includes a long term content and brand licensing services agreement in which Thomson Reuters Lipper will provide Broadridge with data on investment product classifications, pricing, performance, benchmarking, among others.

Thomson Reuters Fiduciary Services and Competitive Intelligence business provides global market intelligence for fund industry flows by country and distribution channel.

It is also the leading provider of 15(c) advisory contract renewal services for validating and benchmarking fee and expense agreements to more than 250 mutual fund families.