Broadridge Expands Disclosure Capabilities to Help Clients with Complex SEC Filings
Broadridge Financial Solutions has acquired CompSci Resources, enhancing its SEC disclosure capabilities. This acquisition integrates CompSci's Transform™ platform with Broadridge's regulatory filings and disclosure services, offering a comprehensive suite for SEC filings, XBRL tagging, and EDGAR filing. The move aims to simplify the regulatory compliance process for public companies and funds amid increasing complexities. The platform supports both managed and self-service approaches, enabling efficient collaboration and automation. The acquisition aligns with Broadridge's focus on improving corporate governance and investor communication. The transaction is not expected to significantly impact Broadridge's financial results.
- Enhanced SEC disclosure capabilities through the acquisition of CompSci.
- Integration of CompSci's Transform™ platform with Broadridge's services.
- Simplified and automated regulatory compliance processes.
- Support for both managed and self-service approaches.
- Strengthened focus on corporate governance and investor communication.
- The transaction is not expected to have a material impact on Broadridge's financial results.
Insights
Broadridge's acquisition of CompSci Resources signals a strategic move to modernize and streamline regulatory disclosure processes. The integration of CompSci's Transform™ platform adds significant value through AI-assisted XBRL tagging and enhanced collaboration tools. By moving from traditional Word and Excel documents to web-based solutions, companies can expect improved efficiency and reduced human error in their filings.
The AI technology embedded in Transform™ will likely automate repetitive tasks, reducing the workload on compliance teams. This is beneficial as regulatory requirements become more intricate. For tech investors, this acquisition highlights Broadridge's commitment to leveraging advanced technology to address complex regulatory needs.
From a financial perspective, while the transaction is not projected to have a material impact on Broadridge's immediate financial results, it has strategic long-term implications. The enhanced capabilities for SEC filings could attract more public companies and funds to Broadridge's platform, potentially increasing market share over time.
Moreover, the acquisition aligns with Broadridge's broader strategy of expanding its end-to-end governance and communication solutions. Although the immediate financial impact is minimal, the long-term revenue growth potential is notable, especially as regulatory burdens increase.
Acquires CompSci, a Web-based, collaborative platform for SEC disclosure preparation, XBRL tagging, and EDGAR filing; platform simplifies disclosure complexities with both managed and self-service capabilities
"The combination of CompSci and Broadridge technology and expertise provides the ultimate SEC disclosure solution to the industry at a time when public companies and funds need to comply with increasingly complex regulatory requirements in the most efficient and cost-effective manner," said Mike Tae, Broadridge's co-president of Investor Communication Solutions. "We are modernizing the regulatory disclosure process with advanced technology to enable public companies and funds to have more direct control of their SEC filings."
"CompSci and Broadridge disclosure solutions are a natural fit given our shared focus on simplifying the corporate governance process for public companies and funds," said Ron Lord, COO of CompSci. " We are excited to become part of the Broadridge investor communications solution set."
The CompSci web-based regulatory disclosure and filing platform enhances Broadridge's portfolio of end-to-end governance and communication capabilities, which includes solutions for shareholder meetings and proxy, corporate governance and shareholder engagement, and stock transfer agency. The platform automates the disclosure preparation process, features AI-assisted XBRL tagging, and enables seamless collaboration among geographically dispersed work teams. Further, the technology allows the process to move from Word and Excel documents to web-enabled and self-serve methods. It can be leveraged to manage filings independently using a self-service approach or can be used as a hybrid solution with support from Broadridge's expert service teams.
Broadridge's Investor Communication Solutions business, which includes Broadridge Issuer Solutions, sits at the center of a global network that connects hundreds of broker-dealers and wealth managers, thousands of public companies, tens of thousands of funds, more than 100 million individual investors and 800 million equity positions. Broadridge's investment in this connected network creates real benefit for clients and the broader industry by enabling better corporate governance, enhancing the investor experience, and driving improved business outcomes.
The transaction is not expected to have a material impact on Broadridge's financial results.
Forward-Looking Statements
This press release and other written or oral statements made from time to time by representatives of Broadridge may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature, and which may be identified by the use of words such as "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "could be," "on track," and other words of similar meaning, are forward-looking statements.
These statements are based on management's expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed. These risks and uncertainties include those risk factors described and discussed in Part I, "Item 1A. Risk Factors" of our Annual Report on Form 10-K for the year ended June 30, 2023 (the "2023 Annual Report"), as they may be updated in any future reports filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release and are expressly qualified in their entirety by reference to the factors discussed in the 2023 Annual Report.
About Broadridge
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with more than
For more information about us and what we can do for you, please visit www.broadridge.com.
Broadridge Contact Information
Investors
broadridgeir@broadridge.com
Media
Tatjana Kulkarni
Tatjana.Kulkarni@broadridge.com
EDGAR® and SEC® are trademarks of the
View original content to download multimedia:https://www.prnewswire.com/news-releases/broadridge-expands-disclosure-capabilities-to-help-clients-with-complex-sec-filings-302186688.html
SOURCE Broadridge Financial Solutions, Inc.
FAQ
What recent acquisition has Broadridge made to enhance its SEC disclosure capabilities?
What technology platform from CompSci will be integrated with Broadridge's services?
How will the acquisition of CompSci impact Broadridge's regulatory compliance process?
Will the acquisition of CompSci have a significant financial impact on Broadridge?
What are the benefits of integrating CompSci's Transform™ platform with Broadridge's services?
