Broadridge Financial Solutions has purchased New York–headquartered buy-side technology and services company Paladyne Systems for around $76.5 million. The acquisition of Paladyne will significantly expand Broadridge’s position as a service provider to buy-side clients.
Paladyne Systems will operate as a core business within Broadridge’s securities processing solutions unit. Raymond James & Associates provided financial advice to Broadridge, whereas Credit Suisse was Paladyne’s strategic adviser on the transaction.
Click here for the release from Broadridge Financial Solutions.