Broadridge Financial Solutions, a technology services company focused on capital markets, has completed the acquisition of Matrix Financial Solutions, a provider of mutual fund processing solutions for the defined contribution market.
According to the Broadridge, the Matrix’s back-office, trust, custody, trading and mutual fund settlement services will be integrated into its solution suite as part of company’s strategy to strengthen its role as a provider of data processing and distribution channel solutions to the mutual fund industry.
With the completion of the transaction, Matrix and its subsidiaries will operate as part of Broadridge’s Investor Communication Solutions business as ‘Matrix Financial Solutions, a Broadridge Company.
The Matrix family of companies includes Matrix Settlement & Clearance Services, MSCS Financial Services, MG Advisory, MG Trust Company, Matrix Communications Technologies and Prima Capital.