NewRiver Selling for $77M

Ryan McBride8/18/10

NewRiver, an Andover, MA-based provider of investor disclosure software, has inked a deal with Broadridge Financial Solutions (NYSE:BR) to be acquired for $77 million, the companies reported yesterday. Lake Success, NY-based Broadridge said the deal is expected to close in August, and NewRiver’s staff in Andover and New Delhi will become part of its investor communication solutions division. Founded in 1995, NewRiver developed the first electronic prospectus, according to the companies’ press release. NewRiver’s investors include Ironside Ventures of Waltham, MA, and New York City-based investors FirstMark Capital and Lazard Technology Partners, according to its website.