Benzinga | Jul 1, 2021 09:22AM EDT

Broadridge Financial Solutions Acquires Cloud-Based ECS Assets From Jordan & Jordan

* Fintech company Broadridge Financial Solutions Inc (NYSE: BR) acquired cloud-based Execution Compliance and Surveillance Service (ECS) assets from Jordan & Jordan to drive its regulatory compliance capabilities for broker-dealers.

* The financial terms of the transaction remain undisclosed.

* The solution provides a combination of surveillance and regulatory reporting and compliance consulting capabilities for U.S. regulations.

* The tuck-in acquisition provided a natural extension of Broadridge's reporting and compliance capabilities for pre and post-execution activities for the U.S. market. It underlined Broadridge's commitment to expanding capital markets offerings to clients.

* Broadridge held $355.8 million in cash and equivalents as of March 31, 2021.

* Price action: BR shares closed lower by 0.32% at $161.53 on Wednesday.