Broadridge Acquires StockTrans
Broadridge Financial Solutions, a technology services provider to public companies and the financial services industry, has acquired StockTrans, a provider of registrar, stock transfer and record keeping services with over 35 years of experience in the stock transfer agency industry.
Broadridge’s acquisition of StockTrans is intended to better address the needs public companies have voiced for lower-cost, more reliable shareholder record maintenance and communication services. StockTrans and Broadridge are focused on ways to further reduce corporate issuers’ overall costs by applying technology to registrar and stock transfer processes. Broadridge and StockTrans are delivering these enhanced services in concert with shareholder communications and voting solutions to make the year-round management of these functions easier and more efficient for corporate issuers.
“Acquiring StockTrans is a natural extension of the proxy and shareholder communication services that over 1,600 corporate issuers have chosen Broadridge to perform on their behalf. It also allows us to expand on the experience we have in record keeping services, processing corporate actions and escheatment,” said Robert Schifellite, president of Broadridge’s investor communication solutions business. “Broadridge will add value to the stock transfer process by establishing new standards for streamlined processing and communications by leveraging its established processes with over 800 bank and broker-dealer clients that co-ordinate the existing beneficial stockholder clearance and settlement system.”