The collaboration of Broadridge and IBM will enable clients to focus their resources on revenue-generating activities to compete more effectively, the companies said.
Broadridge Financial Solutions, Inc. and IBM have announced an information technology (IT) services agreement whereby IBM will provide Broadridge data center and information processing services. In addition to the IT services agreement, Broadridge and IBM have signed a business alliance agreement.
Under the 10-year IT services agreement, IBM will provide all infrastructure services to Broadridge including data center, IT operations and network support. From enhanced information security controls to advanced replication and redundancy technology, IBM will manage the sophisticated IT requirements for Broadridge's range of financial markets clients, better positioning Broadridge for long term growth. Broadridge expects the migration of its data center processing to IBM to take approximately 18-24 months to complete.
As a result of the business alliance agreement, Broadridge's clients in the U.S. and globally will immediately be able to leverage IBM's extensive suite of solutions which includes data center support, business and technology consulting services, application development, as well as managed business processing, migration and integration services. The collaboration of Broadridge and IBM will enable clients to focus their resources on revenue-generating activities to compete more effectively in the marketplace, rather than supporting in-house transaction processing and technology infrastructures.
"We are very excited to team with IBM, the premier data center services provider, to offer these strategic capabilities. We firmly believe that this agreement will empower Broadridge's clients with the ability to enhance their operations infrastructure and business models," said Richard J. Daly, Chief Executive Officer, Broadridge. "The technological expertise and global footprint of both firms associated with our single-source solution is unrivaled in the marketplace today and will enable our clients to be competitive for years to come," Mr. Daly added.
"This is a very exciting time to be working with a leading technology services provider in the financial markets industry," said Patrick Kerin, General Manager, IBM Global Technology Services. "The IT services we are providing Broadridge will help their clients to accelerate operations and focus on growth by providing them with a reliable IT infrastructure. The alliance brings together the strengths of both parties with Broadridge's deep industry knowledge and assets, and IBM's deep technical skills and advanced products."
Both contracts were signed on March 31, 2010.
About Broadridge
Broadridge is a technology services company focused on global capital markets. Broadridge is the market leader enabling secure and accurate processing of information for communications and securities transactions among issuers, investors and financial intermediaries. Broadridge builds the infrastructure that underpins proxy services for over 90% of public companies and mutual funds in North America; processes more than $3 trillion in fixed-income and equity trades per day; and saves companies billions annually through its technology solutions. For more information about Broadridge, please visit www.broadridge.com.
About IBM
For more information, please visit www.ibm.com/services.
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