The acquisition will see Summit’s document programme and regulatory filing programme integrate with Broadridge’s communications services.
According to Broadridge, the integration will create an end-to-end solution for clients dealing with private funding, enabling them to prepare, file and disseminate documents for capital markets transactions.
It will also allow them to share documents with other regulators and shareholders.
Robert Schifellite, Broadridge’s corporate senior vice president and president of investor communication solutions, said: “Joining Summit’s technology and expertise with Broadridge’s leading communications solutions will create the ideal end-to-end resource for corporations in a market that demands greater speed, convenience and cost efficiency.”
Kenneth McClure, Summit co-founder, commented: “Since Summit’s founding in 2013, we have been committed to changing antiquated practices in our industry.”
He added: “Combined with Broadridge, we look forward to delivering an expanded suite of innovative services, and even greater value to our clients.”