Broadridge Financial Solutions (Canada) Corp. entered into a definitive agreement to acquire Securities Industry Services business of Kyndryl Holdings, Inc. (NYSE:KD) on May 13, 2024. Closing of the SIS transaction is subject to customary closing conditions, including required regulatory approvals.

The transaction has no impact on Kyndryl's fiscal year 2025 outlook. The transaction is not expected to have a material impact on Broadridge's financial results and is expected to close in the coming months. Kyndryl intends to use the net proceeds from the two transactions for general corporate purposes.

RBC Capital Markets acted as the exclusive financial advisor to Broadridge on this transaction.