Investor communications provider Broadridge Financial Solutions Inc. (NYSE: BR) is buying privately-held investment software company QED Financial Systems Inc. Financial terms were not disclosed.
QED, based Marlton, New Jersey, dvelops software that help companies manage financial data and other accounting services. The target works with investment advisers, family offices and asset managers. The acquisition will complement Broadridge’s portfolio management, data and analytics businesses. Broadridge provides investor communication and financial technology services to banks, mutual funds and other financial advisers. The company is led by CEO Richard Daly.