Broadridge Expands Disclosure Capabilities to Help Clients with Complex SEC Filings
Acquires CompSci, a Web-based, collaborative platform for SEC disclosure preparation, XBRL tagging, and EDGAR filing; platform simplifies disclosure complexities with both managed and self-service capabilities
NEW YORK, July 1, 2024 /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE: BR) today announced that it has acquired CompSci Resources, LLC, a provider of cloud-based financial technology software for the preparation and processing of SEC filings for public companies and funds. CompSci's technology platform Transform™ will be integrated with Broadridge's regulatory filings and disclosure capabilities to provide public companies and funds with a full-suite of collaborative, web-based solutions to simplify and enhance SEC regulatory disclosure preparation, XBRL tagging and EDGAR filing.
"The combination of CompSci and Broadridge technology and expertise provides the ultimate SEC disclosure solution to the industry at a time when public companies and funds need to comply with increasingly complex regulatory requirements in the most efficient and cost-effective manner," said Mike Tae, Broadridge's co-president of Investor Communication Solutions. "We are modernizing the regulatory disclosure process with advanced technology to enable public companies and funds to have more direct control of their SEC filings."
"CompSci and Broadridge disclosure solutions are a natural fit given our shared focus on simplifying the corporate governance process for public companies and funds," said Ron Lord, COO of CompSci. " We are excited to become part of the Broadridge investor communications solution set."
The CompSci web-based regulatory disclosure and filing platform enhances Broadridge's portfolio of end-to-end governance and communication capabilities, which includes solutions for shareholder meetings and proxy, corporate governance and shareholder engagement, and stock transfer agency. The platform automates the disclosure preparation process, features AI-assisted XBRL tagging, and enables seamless collaboration among geographically dispersed work teams. Further, the technology allows the process to move from Word and Excel documents to web-enabled and self-serve methods. It can be leveraged to manage filings independently using a self-service approach or can be used as a hybrid solution with support from Broadridge's expert service teams.
Broadridge's Investor Communication Solutions business, which includes Broadridge Issuer Solutions, sits at the center of a global network that connects hundreds of broker-dealers and wealth managers, thousands of public companies, tens of thousands of funds, more than 100 million individual investors and 800 million equity positions. Broadridge's investment in this connected network creates real benefit for clients and the broader industry by enabling better corporate governance, enhancing the investor experience, and driving improved business outcomes.
The transaction is not expected to have a material impact on Broadridge's financial results.
Forward-Looking Statements
This press release and other written or oral statements made from time to time by representatives of Broadridge may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature, and which may be identified by the use of words such as "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "could be," "on track," and other words of similar meaning, are forward-looking statements.
These statements are based on management's expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed. These risks and uncertainties include those risk factors described and discussed in Part I, "Item 1A. Risk Factors" of our Annual Report on Form 10-K for the year ended June 30, 2023 (the "2023 Annual Report"), as they may be updated in any future reports filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release and are expressly qualified in their entirety by reference to the factors discussed in the 2023 Annual Report.
About Broadridge
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with more than $6 billion in revenues, provides the critical infrastructure that powers investing, corporate governance and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than U.S. $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.
For more information about us and what we can do for you, please visit www.broadridge.com.
Broadridge Contact Information
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Tatjana Kulkarni
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EDGAR® and SEC® are trademarks of the U.S. Securities and Exchange Commission. Broadridge's products and services are not affiliated with or approved by the U.S. Securities and Exchange Commission.
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SOURCE Broadridge Financial Solutions, Inc.
