After nine years in the hands of a venture capital firm, Sweden-based financial infrastructure provider Itiviti is picked up for an industrial match.
Itiviti is a provider of an order execution management system that consolidates trading of various asset classes and principal/agency trading modes onto joint platforms, aiming to take complexity out of operations. The company is now acquired by NYSE-listed fintech giant Broadridge, in a deal valued at 2.1 billion euro.
“The acquisition of Itiviti enhances Broadridge’s position as a global fintech leader, expands our capital markets franchise and drives additional global scale by increasing our footprint in APAC and EMEA and our ability to serve global clients,” says Broadridge CEO Tim Gokey in a press release. “Itiviti is highly complementary to Broadridge’s industry-leading post-trade product suite and other capital markets capabilities.”