Broadridge acquires Alpha Omega in Itiviti combination plan
Broadridge has acquired post-trade solutions provider Alpha Omega in an undisclosed deal, in an expansion of its 32% ownership.
The acquisition is planned as a follow-up to Broadridge’s $2.5 billion acquisition of Itiviti in March.
Broadridge says the deal enables it to fully consolidate Alpha Omega’s post-trade matching and consolidation solution into its existing infrastructure.
The vendor says Alpha Omega brings “invaluable expertise in advanced FIX-based technology” across allocation, confirmation, and affirmation of trades.
Alpha Omega will integrate with Broadridge’s existing NYFIX Matching platform, which will combine the former’s FIXAffirm solution with newly-acquired Itiviti’s NYFIX network.
Through this service, Broadridge says buy-side firms can allocate and match their trades and receive same-day affirmation “with a global community of more than 100 brokers”.
Ray Tierney, appointed as president of Itiviti in June, says his firm is “leading technology innovation in post-trade”.
He adds: “This acquisition is a testament to our continued growth and momentum in transforming this space.”
Tierney claims NYFIX Matching is the “first ‘one-stop’ platform” to handle all of a fund’s trade matching needs “across various product types and asset classes”.
Broadridge is one of the industry’s most active consolidators and has conducted several mergers and acquisitions in the past few years.
It confirmed the acquisition of reporting firm FundsLibrary and portfolio management firm ClearStructure in 2020.
In 2019, it took over Northern Trust’s private equity distributed ledger system, securities firm Rockall, and a portion of regulatory technology firms PivotData and Sol Hedge.
In 2018, it bought up Dublin-based FundAssist and Israeli digital technology firm ActivePath.