Broadridge to acquire Toronto-based wealth management software firm

New York-based Broadridge Financial Solutions, Inc. announced on Tuesday it has agreed to acquire Toronto-based RPM Technologies, a developer of enterprise wealth management software, for approximately US$300 million.

“The addition of RPM Technologies broadens and deepens our wealth management product offering in Canada,” Tom Carey, president of global technology and operations at Broadridge, said in a release.

RPM’s software is used by Mutual Fund Dealers Association of Canada (MFDA) members as well as retail clients, and currently supports more than 15 million customer accounts.

The transaction is subject to customary closing conditions and the completion of an intercompany reorganization by RPM Technologies.

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