New York-based fintech firm Broadridge Financial Solutions announced Friday that it had finalised the acquisition of Kyndryl’s Securities Industry Services (SIS) platform.
Broadridge Completes Kyndryl SIS Takeover
The company explained that the move strengthens its position in the Canadian financial services market, enabling it to offer comprehensive wealth management and capital markets solutions to Canadian firms.
The acquisition of SIS, which specialises in clearing and settlement, account record keeping, tax and regulatory reporting, and integrated order management, align with Broadridge’s target of providing technology solutions to the Canadian market.
By combining SIS’s capabilities with Broadridge’s wealth platform, the company seeks to accelerate innovation and meet the evolving needs of Canadian financial institutions.
“The partnership with Kyndryl and the acquisition of the SIS business further underscore Broadridge’s long-standing commitment to being a leading technology provider to Canadian financial services firms,” said Karin Kirkwood, President of Broadridge Canada, in his initial comments when the deal was announced in May.
He added that the combination of the SIS technology business and Kyndryl managed services with Broadridge’s Wealth Platform “will further accelerate our ability to bring innovation to Canada and meet the increasingly complex needs of Canadian firms.”
Meanwhile, Farhaz Thobani, President of Kyndryl Canada, said at the time that Broadridge had been a long-standing partner and the latest collaboration “is a win-win for our Canadian clients.”
“Broadridge shares our commitment to drive technology innovation at scale, making them the right acquirer for the SIS business and bringing additional innovation to our clients,” stated Thobani.
