Broadridge buys NewRiver

Broadridge Financial Solutions, Inc. has announced the acquisition of NewRiver, Inc., a leader in electronic investor disclosure solutions for $77 million.

An agreement to this effect has been entered into, marking the merger and the transaction is expected to close this month.

NewRiver has assisted clients in their transition from paper to electronic disclosure, allowing them to reduce compliance risk and lower operational costs.

The merger is expected to accelerate Broadbridge's e-strategy and strengthen its compliance communication capabilities, a press release said.