Broadridge buys FundsLibrary from HL to create 'pan-European digital data platform'

Transaction will close in February

Broadridge Financial Solutions has entered into an agreement to acquire digital platform FundsLibrary from parent company Hargreaves Lansdown for an undisclosed amount.

In a statement, US-based Broadridge said that combining FundsLibrary's capabilities with Broadridge's existing regulatory communications offerings will enable it to "significantly reduce complexity and cost for global fund managers", helping them to increase distribution opportunities and meet their regulatory requirements across multiple jurisdictions. The acquisition is expected to close in mid-to-late February, subject to the satisfaction of customary closing conditions. Firms face 'grey areas' as value for money rules come into force Samir Pandiri, president of Broadridge Inter...