Kyndryl plans to maintain a collaborative relationship with Broadridge Canada. Credit: TippaPatt/Shutterstock.

Broadridge Financial Solutions has completed the acquisition of Kyndryl’s Securities Industry Services (SIS) wealth and capital markets technology platform.

The deal was signed between the firms in May 2024.

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The SIS platform is designed to provide wealth management and capital markets software solutions to financial services firms in Canada.

Its offerings include essential services such as clearing and settlement, tax and regulatory reporting, account record keeping, and integrated order management.

Kyndryl plans to maintain a collaborative relationship with Broadridge Canada by offering managed services and capabilities to support the SIS platform.

Broadridge’s acquisition of Kyndryl’s SIS platform is poised to deliver “leading solutions” to Canadian financial services firms.

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Broadridge Canada president Karin Kirkwood earlier said: “The partnership with Kyndryl and the acquisition of the SIS business further underscore Broadridge’s long-standing commitment to being a leading technology provider to Canadian financial services firms.

“The combination of the SIS technology business and Kyndryl managed services with our industry-leading Broadridge Wealth Platform will further accelerate our ability to bring innovation to Canada and meet the increasingly complex needs of Canadian firms.”

RBC Capital Markets served as exclusive financial advisor to Broadridge on the deal.

In May 2024, technology infrastructure services provider Kyndryl partnered with NVIDIA to accelerate the development and use of AI for business insights and outcomes.

Through its AI-driven digital platform, Kyndryl Bridge, Kyndryl will support the full AI development lifecycle in business environments for clients using NVIDIA’s full-stack computing and software.